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Johnny Depp Sued By Former Business Managers

Truth rating: 10
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By Michael Lewittes |

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(Getty Images)

Johnny Depp is being sued by his former business managers. On Tuesday, The Management Group filed a countersuit against Depp, who earlier in the month slapped his former managers with a lawsuit, claiming fraud, negligence, and breach of fiduciary duty. In their countersuit, Depp’s past managers allege that his financial woes are due to his own lavish spending, which included buying multiple homes, a yacht, and even an island in the Bahamas. The Management Group contends Depp blows through approximately $2 million a month, and didn’t heed their warnings to drastically curb his spending.

Depp was a client of The Management Group from 1999 to 2016, during which he amassed a fortune making the Pirates of the Caribbean movies, as well as Charlie and the Chocolate Factory and Alice in Wonderland. As Gossip Cop previously reported, Depp filed a $25 million lawsuit against The Management Group, claiming two of the firm’s attorneys helped themselves to $28 million in fees. In his court filing, Depp also alleged The Management Group, which handled his accounting, failed to properly file his taxes and loaned $10 million of his money to a third parties, without his consent. “As a result of years of gross mismanagement and sometimes 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,” contended Depp’s complaint.

But that’s not the case, says The Management Group. In their countersuit, they claim Depp’s problems were brought upon by himself, having bought 14 homes, including his own private island in the Bahamas and a French chateau. Their suit also details how the actor owns a yacht and has accumulated a giant art collection. The Management Group maintains Depp repeatedly ignored their warnings to reign in his spending. “Depp, and Depp alone, is fully responsible for any financial turmoil he finds himself in today,” reads the countersuit.

It’s also alleged that Depp’s court filing is simply an effort to stave off foreclosure proceedings that had been previously initiated by The Management Group’s lawyers. The actor’s former managers claim the attorneys had once loaned Depp $5 million, so he wouldn’t default on a bank loan for that amount. But after he didn’t pay the lawyers back, they tried to foreclose of some of his properties, and it was only then that Depp allegedly concocted his fraud and negligence claims against them. Gossip Cop has reached out to Depp’s rep for a comment about the countersuit, but we have yet to hear back.

 


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