Johnny Depp sued his former managers on Friday for the allegations that they mismanaged the earnings of the actor throughout the productive period of his career. On the other hand, the company reiterated that it was due to the actor's irresponsible spending that is supposed to be the blamed.
Depp filed a lawsuit case in the Los Angeles Superior Court against The Management Group who managed him and the actor is seeking for more than $US 25 million or $33 million, to the former managers Joel and Robert Mandel. The actor accused them that they failed to pay taxes, made unauthorized loans and even overpaid for other certain security services, Sydney Morning Herald reported.
He has filed a complaint which is 52 pages long and it stated that Depp lost ten millions of dollars and even he has been forced to dispose significant assets to pay for the TMG's self-deals and gross misconduct. It has been known that TMG has represented Depp from 1999 until March 2016 and receives every 5% of his income.
Further, the management group has also called Depp's lawsuit a fabrication. According to them, their company did everything possible to protect Depp from irresponsible spending. While the actor accuses the company of receiving $28 million in payments for services in 16 years, they also actively concealed the true state of Depp's finances, Newser reported.
Meanwhile, it was also stated in the lawsuit of the actor that the TMG has failed to terminate the lease on a home where his mother temporarily lives while spending $8 million on security services in between 2012 to 2015 alone. Further, the TMG's lawyer, Michael J. Kump also wrote that it was the actor who owes his managers about $4.2 million from a $5 million loan. Depp's tactics will fail and might be forced to pay back those loans as promised, Kump wrote.
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