In mid-January, actor Johnny Depp filed a lawsuit against his business managers, alleging their “gross misconduct” caused him to lose “tens of millions of dollars.”
(Of course, Depp and fellow actor Amber Heard just completed their tumultuous divorce after less than two years of marriage. The judge’s decision ordered Depp to pay Heard $7 million as a settlement, so he might be feeling a bit strapped for cash.)
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In the 52-page filing, Depp, 53, claims that The Mandel Co. (his management group) and other listed defendants mismanaged his money, causing him to lose at least $25 million, which is the amount he’s suing them for. The Pirates of the Caribbean star alleges TMG failed to file his taxes by the deadline, forcing him to incur $5.7 million in late fees.
“Mr. Depp is one of the most sought-after and highly paid actors in the world,” Depp lawyer Matthew Kanny said in the complaint. “He is also the victim of the gross misconduct of his business managers — The Management Group (TMG) 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.”
Michael Kump, a lawyer for the Mandels and TMG, said in response that the lawsuit is “a transparent attempt to derail the foreclosure by concocting and spreading malicious lies.” Kump added that the actor’s financial difficulties were caused by his own “irresponsible and profligate spending.”
Kump also addressed a $5-million loan the Mandels allegedly used to bail Depp out of “trouble” in late 2012. Kump asserts that the actor promised to reimburse them by January 2014, but never did.
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“His tactics and lawsuit will fail, and he will be forced to pay back the loan as promised,” Kump said.
Now TMG and the Mandels are countersuing Depp, saying his lavish $2-million-a-month lifestyle is to blame for his lost money.
“He has refused to live within his means, despite … repeated warnings about his financial condition,” their countersuit claims. (The legal documents below were obtained from Deadline.com.)
In their countersuit, they provide multiple examples of the actor’s out-of-control spending, including the $75 million he spent on 14 homes around the world, and the $3 million he spent blasting late journalist Hunter S. Thompson’s ashes out of a cannon (which was a request in the author’s will).
Other alleged expenditures include:
- $30,000/month on buying and importing wine
- $200,000/month on private jets
- $18 million on a 45-metre yacht
- $4 million on a failed record label
- $300,000/month for a staff of 40 people
- $150,000/month on 24/7 security
- An undisclosed amount to maintain 12 storage facilities to house his Hollywood memorabilia collection
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Depp is set to appear in the upcoming Pirates of the Caribbean: Salazar’s Revenge, set for release in May, and the sequel to Fantastic Beasts and Where to Find Them, scheduled to open in 2018.