July 29, 2021

Johnny Depp sues business managers for $25M in losses, company blames the actor’s ‘irresponsible’ spending

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Johnny Depp is suing his former business managers for more than $25 million in losses — but the company says the actor is to blame.

The “Pirates of the Caribbean” star claims The Management Group — which worked for him during a lucrative part of his career — concealed the actual state of his finances, driving him deeper and deeper into financial trouble.

However, Michael J. Kump, an attorney for The Management Group, calls the lawsuit a “fabrication.”

The lawsuit filed Friday alleges that the managers failed to pay his taxes, made unauthorized loans and overpaid for other services, like continuing a lease on a home where his mother lived temporarily after she moved out and dishing out a whopping $8 million on security over a three year period.

The company and its owners, attorneys Joel and Robert Mandel, also received $28 million for their services over a period of roughly 16 years while they managed his finances. The group received a cut of 5% from some of Depp’s largest films, including the “Pirates of the Caribbean” franchise, “Alice in Wonderland,” and the 2005 “Charlie and the Chocolate Factory.”

The company “did everything possible to protect Depp from his irresponsible and profligate spending,” Kump wrote.

Kump also claims Depp, 53, actually owes The Management Group $4.2 million from a $5 million loan they took out on his behalf.

“His tactics and lawsuit will fail, and he will be forced to pay back the loan as promised, “he added.

Amber Heard’s PSA didn’t break divorce settlment with Johnny Depp
News of the suit came on the same day that Depp’s divorce from Amber Heard, 30, was finalized.

The terms of the divorce call for the “Cry-Baby” star to pay the actress $7 million in a series of installments, which she noted would be donated to various charities.

With News Wire Services

NO SALES, NO MAGS, PHOTO PROVIDED BY WALT DISNEY PICTURES AP provides access to this publicly distributed HANDOUT photo to be used only to illustrate news reporting or commentary on the facts or events depicted in this image.
The period, which included “Pirates of the Caribbean: Dead Man’s Chest,” was a particularly lucrative time in Depp’s career. (PETER MOUNTAIN/AP)
The Management Group represented Depp in a time when he starred in countless films, including Disney’s “Alice Through the Looking Glass.” (DISNEY VIA YOUTUBE)
Johnny Depp is suing his former management company alleging more than $25 million in losses. (GRANT POLLARD/GRANT POLLARD/INVISION/AP)
For more on this story and video go to: http://www.nydailynews.com/entertainment/gossip/johnny-depp-sues-business-managers-25m-losses-article-1.2946359

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