Johnny Depp is firing back at his former management team over their claims his financial woes are all his fault, according to a statement by Depp’s attorney, Adam Waldman.
The Pirates of the Caribbean star claims his former business team, The Management Group (TMG), “have chosen to employ a reprehensible ‘blame the victim’ strategy in a transparent attempt to save their own skin and deflect away from their malfeasance, which is chronicled in Mr. Depp’s 48 page complaint.”
“Mr. Depp did not sue his former business managers for his own personal investment decisions or the ‘financial distress’ they wildly allege — Mr. Depp sued them for fraud and multiple breaches of their fiduciary duty, among other claims,” Waldman continues. “Gaslighting the public with global press releases will not save the defendants in court from their gross misconduct set forth in the complaint.”
Depp, 53, sued TMG earlier this month for $25 million in a fraud lawsuit. On Tuesday, TMG filed a cross-complaint, claiming the actor lived an “ultra-extravagant lifestyle that often knowingly cost Depp in excess of $2 million per month to maintain, which he simply could not afford.”
In TMG’s lawsuit, obtained by PEOPLE, the management firm asks Depp to pay more than $560,000 in allegedly unpaid commissions and credit card fees. TMG’s lawsuit is also asking for a court declaration that it “complied with all of its fiduciary obligations under the law and that Depp is responsible for his own financial waste.”
TMG’s complaint claims Depp spent over $75 million on 14 residences, $18 million to “acquire and renovate a 150 foot luxury yacht,” millions more buying and maintaining 45 luxury vehicles, $30,000 per month on expensive wines flown from all over the world, as well as $200,000 per month on private planes and tens of millions on “a massive and extremely expensive art collection,” including “world class jewelry,” about 70 collectible guitars and over 200 works by artists such as Warhol, Klimt, Basquiat, and Modigliani, among other things.
In the court papers, his former managers claim they repeatedly warned Depp of his overspending, and even warned him to get a pre-nup before marrying Amber Heard, which ended up costing him a $7 million settlement.
However, Depp’s lawyers claim in his lawsuit that the actor “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.”
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Depp’s lawsuit alleges TMG paid itself over $28 million in fees without his consent and failed to pay his taxes on time, resulting in $5.6 million in fees and penalties. The actor also claims the company loaned money to people without Depp’s permission. reads Depp’s complaint.
In a statement, TMG maintains that “Johnny Depp alone was solely responsible for his extravagant spending. Over 17 years, The Management Group (TMG) did everything possible to protect the actor from himself.”