Johnny Depp is being sued by The Management Group (TMG), the company that formerly managed his finances, over allegedly unpaid commissions and credit card fees of over $560,000. This in response to the Pirates of the Carribean actor’s fraud lawsuit filed early January.
According to Depp’s lawyers, the actor is suing the company for “gross mismanagement” and “outright fraud.”
“Mr. Depp lost tens of millions of dollars and has been forced to dispose of significant assets to pay for TMG’s self-dealing and gross misconduct,” the court document claimed. “In essence, TMG treated Mr. Depp’s income as their own, available to either TMG or third parties to draw upon as desired.”
However, in its counter affidavit, TMG claimed Johnny Depp’s financial crisis was due to his lavish lifestyle, saying that the 53-year-old actor lived an “ultra-extravagant lifestyle that often knowingly cost Depp in excess of $2 million per month to maintain, which he simply could not afford.”
TMG’s court filing claims Depp spent over $75 million on 14 residences, $300 million on expensive wines flown from abroad, $18 million to buy and renovate a luxury yacht and tens of millions on other things like collectibles, memorabilia, art collection and jewelry.
On top of that, the Fantastic Beasts actor allegedly spent $200,000 monthly on private planes; $150,000 monthly on security guards and $300,000 monthly to pay for 40 full-time employees, People Magazine reported.
TMG claimed that the actor’s former business managers “repeatedly warned Depp about his precarious financial situation and often begged Depp to curb his spending and sell assets.”
However, whenever they did so, the actor “often engaged in profanity-laced tirades where he abused the professionals surrounding him and claimed that he would work harder to afford whatever new item he wanted to purchase.”
TMG also allegedly advised Depp to get a pre-nup before marrying Amber Heard. Initially, the actor agreed to it but ultimately announced he was getting married without it. Depp’s divorce with the actress cost him $7 million in settlement fees.
The management firm is now asking Depp to pay $560,000 in allegedly unpaid credit card fees and commission on top of a separate and ongoing non-judicial foreclosure for $5 million loan. The loan was allegedly made to the actor in 2012 when he was “facing public financial ruin.”
As of today, the actor has yet to pay $4.2 million for the loan, TMG claimed.
“Johnny Depp alone was solely responsible for his extravagant spending. Over 17 years, The Management Group (TMG) did everything possible to protect the actor from himself,” the financial management firm said.