The actor is heading back to court, after finally finalising his divorce on Friday.
Johnny Depp has filled a lawsuit against his former business managers, alleging “gross misconduct” that resulted in him losing “tens of millions of dollars.”
According to the lawsuit, Depp is seeking at least $25 million in damages and has alleged that the mismanagement was so bad he’s been forced to sell off assets to pay for his losses.
Johnny Depp has illed a lawsuit against his former business managers
Variety report that Depp filled the lawsuit in Los Angeles state court on Friday, with a 52 page long complaint, which lists the Mandel Co., The Management Group, Joel L. Mandel, Robert Mandel, First American Title Insurance Co. and 15 other unnamed persons as defendants.
“Mr. Depp is one of the most sought after and highly paid actors in the world,” said attorney Matthew Kanny in the complaint, obtained by Variety. “He is also the victim of the gross misconduct of his business managers — The Management Group and attorneys Joel and Robert Mandel — who collected tens of millions of dollars of contingent fees, purportedly based on an oral contract, all at Mr. Depp’s expense.”
More: Johnny Depp And Amber Heard Finalise Divorce
“Like many successful artists who depend on financial professionals to advise them, Mr. Depp trusted and reasonably relied on TMG to handle his financial and certain legal affairs and to ensure that he and his family would have a financially secure future, built upon the foundation of the substantial moneys Mr. Depp earned through years of hard work,” the complaint continues.
“But instead, as a result of years of gross mismanagement and at times, 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.”
On Friday, Michael Kump, attorney for TMG and the Mandels, issued a statement calling the suit a complete fabrication. “For 30 years, Joel and Rob Mandel, and their company The Management Group, have been trusted business managers to some of the most successful individuals and companies in the entertainment business,” Kump said.
More: Here's Why Johnny Depp Has Had A Crazier Year Than Most
“For 17 of those years, they did everything possible to protect Depp from his irresponsible and profligate spending. In December 2012, Depp faced financial ruin with the impending default on a $5 million bank loan. The Mandels bailed him out by loaning him $5 million, which he promised to repay by January 2014.”
Kump added that Depp’s “tactics and lawsuit will fail, and he will be forced to pay back the loan as promised.” The lawsuits filling came on the same day that Depp’s divorce from Amber Heard was finalised after an eight month long process.
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