Johnny Depp Lawsuit: Court Exhibits Purportedly Show Actor Was Fully Aware of Financial Situation
Several exhibits were presented in Johhny Depp's lawsuit against his former business managers and lawyers from The Management Group (TMG), showing that the Hollywood actor had long before known about his financial crisis. TMG claimed that Depp's financial loss was his own doing.
On Jan. 13, Depp filed a $25 million lawsuit against his former managers from TMG for a total of 11 complaints, Deadline reports.
"As a result of years of gross mismanagement and sometimes 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," said the 52-page complaint filed in the Los Angeles Superior Court.
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The lawsuit accuses TMG for allegedly committing fraud, breach of contract, professional negligence, and more. It also entails that TMG utilized $28 million in contingency fees without a written agreement with the Hollywood actor and failed to handle his taxes on time, which resulted in over $5.6 million in fees and penalties. The lawsuit also claims that Depp's former managers loaned almost $10 million to third parties without the actor's acknowledgement.
"TMG's gross mismanagement and fraud remained undetected as TMG borrowed millions of dollars to survive from movie-to-movie," the lawsuit alleges.
Depp only found out when he dropped TMG and partnered with new management, along with an accounting service, that he had already garnered a huge financial loss.
However, new evidence in court suggests that Depp had long before known about his financial situation.
TMG lawyers submitted 11 exhibits of emails between Depp and several members of his inner circle that they already knew about the damage in the Hollywood actor's financials.
In one of the exhibits, TMG principal Joel Mandel sent an email to Depp in December of 2009 sharing their financial conditions, to which the actor replied that he would take care of with his upcoming line of movies.
The lawyers for TMG claim that Depp's financial loss was his own doing, due to his mismanaged expenses to accommodate a lavish life.
