Johnny Depp has reportedly been in a financial mess for quite some time, and the past year of the notable actor’s life has been spent battling it out in the courtroom against the star’s former management group, TMG, in addition to Depp’s former legal team.
Johnny launched a lawsuit against TMG members last year, claiming that the group mismanaged his $600 million fortune and were involved in fraudulent activity regarding various loans, in addition to reportedly failing to pay the star’s taxes on time. In recent months, Depp then tied in his former legal team to the suit, claiming that the professionals were aware of the alleged fraudulent activity by TMG.
The Management Group’s legal team has denied all claims while also placing the blame on Depp due to the star’s reported extravagant spending.
In early 2017, Depp’s spending was laid bare to the world in a counterclaim by TMG’s team, noting that Johnny spends extravagantly and that members had advised the star to curb his spending to avoid bankruptcy. Depp is said to have not heeded this advice.
The most recent claims made by TMG’s legal team regarding Depp’s spending revolve around the Pirates Of the Caribbean star’s habit to take out monthly $2 million loans to support his extravagant lifestyle.
The Daily Mail notes the recent claims.
“TMG fired back and claimed Depp lived beyond his means, shelling out $2 million-a-month for his exuberant lifestyle while knowingly choosing ‘to live in debt’. Now, TMG is demanding that Depp hand over any documents for loans he has received that are more than $5,000, according to papers filed in a Los Angeles court last week.”
Johnny Depp’s legal team has responded to these counterclaims by accusing TMG of deflecting from their wrongdoing in the case and “blaming the victim” while attempting to harm his reputation with their allegations.
The $25 million lawsuit was launched by Depp just after he left TMG and discovered alleged misconduct, which involved the group reportedly paying itself $28 million in contingency fees “without a written agreement from Depp.” In addition to this, Johnny Depp claims that the group incurred $5.6 million in fines for failing to pay Depp’s taxes on time, as well as $10 million in loans made by TMG without the star’s consent.
Depp has experienced tumultuous times over the past two years, ever since Amber Heard filed for divorce from the star and alleged domestic violence. The financial woes followed his dramatic divorce proceedings, and a negative cloud has loomed over Johnny Depp and his career ever since the allegations by Heard were made. Depp denied all allegations and the claims were dismissed, as the Daily Beast reminded.