Johnny Depp Sues His Former Business Managers For $25 Million
About a month before a judge slid a manhole cover over the open sewer that was Johnny Depp and Amber Heard’s divorce battle, Johnny demanded that Amber fork over $100,000 for his legal fees. I thought it was a little odd that a multi-millionaire like Johnny would act up for a measly $100k. As it turns out, his bank accounts have been a little lighter lately, and he’s blaming it on the decisions made by his former business managers. He’s also gotten the legal system involved because he wants that money back.
Variety says that last Friday, the same day he officially became single again, Johnny filed a $25 million lawsuit against The Mandel Co., The Management Group, Joel L. Mandel, Robert Mandel, First American Title Insurance Co., and 15 other unnamed defendants. Johnny alleges his former business managers of “gross misconduct” that resulted in him losing “tens of millions of dollars.” He is asking for $25 million in damages.
The lawsuit accuses Johnny’s business people of taking $28 million in contingency fees, failing to file or pay Johnny’s federal taxes on time, and “loaning” almost $10 million to third parties without Johnny’s ok. His lawyer Matthew Kanny calls Johnny a “victim” who was taken advantage of, thanks to an oral contract. His lawyer describes TMG’s actions as mismanagement and “at times, outright fraud.” According to the lawsuit, poor Johnny claims his financial situation is so fucked, he’s been forced to sell off some of his assets to pay for his losses.
Johnny’s former business managers have something to say about this lawsuit. They think Johnny’s accusations are about as truthful as a promise from Johnny assuring you he brushed his teeth in the past 48 hours. An attorney for TMG and the Mandels says that they worked hard for Johnny for 17 years, and any financial issues are the result of Johnny’s reckless spending. Their attorney also thinks Depp is using this lawsuit as a way to buy himself some time to delay the sale of his assets. The actor allegedly borrowed $5 million from his business managers in 2012. They gave him until 2014 to repay it.
By 2016, only about $800,000 had been repaid, so last October they started foreclosure proceedings on some of the actor’s properties to get the remaining $4.2 million he owed them.
Johnny filed his lawsuit the night before several properties were to be foreclosed upon by the Mandels and The Mandel’s attorney doesn’t think that’s a coincidence.