"Pirates of the Caribbean" star Johnny Depp has filed a multi-million dollar law suit against The Management Group (TMG). Depp claims that the company's owners, Joel and Robert Mandel cost him millions of dollars due to mismanagement. Depp is seeking $25 Million in damages from this former management.
Among Depp's claims is that TMG failed to properly pay his taxes, made unauthorised loans and overpaid for security and other services as per The Sydney Morning Herald. The actor's 52 page long complaint states that he lost "tens of millions of dollars" which led to him having to "dispose of significant assets to pay for TMG's self-dealing and gross misconduct". It contains 11 causes of action which include professional negligence, fraud, and negligent misrepresentation among other things.
However, there are always two sides to every story as TMG denies all of Depp's allegations and accused the actor of fabricating the charges. According to the Mirror UK, it was Depp's own profligate spending that caused the actor to lose millions. In fact, they even claim that Depp took out a $5 Million loan with TMG to help him from defaulting on a bank loan he could no longer pay.
The Mandel brothers stared non-judicial foreclosure proceedings against Depp's properties the actor still owing $4.2 million in October 2016. It was also on the eve of the sale of those properties that Depp filed his lawsuit. It would seem that this was done in an attempt to prevent the foreclosure and according to the lawyer representing TMG, Michael Kump, these delaying tactics of Depp will fail and he will be forced to pay back the money he owes from the loan as promised. (Source: The Hamilton Spectator)
It can also be noted that Johnny Depp has just finished his divorce with actress Amber Heard which called him to pay $7 Million as settlement. Which could be another reason for Depp to be in financial straits and trying to prevent himself from losing more.
