Johnny Depp Accused his Business Managers for a $25M+ Fraud

 

          The latest Hollywood star to file a lawsuit against the people he trusted with his money is Johnny Depp.

According to a complaint filed in L.A. County Superior Court, Johnny Depp is suing The Management Group, together with two of his attorneys.

Fraud, negligence and breach of fiduciary duty are listed among other claims. TMG worked with Depp as his legal, business, tax and accounting advisors from 1999 to 2016. In that time they managed to collect contingent fees worth $28 million. Johnny Depp states that he never agreed for that.

Attorney Matthew Kanny writes in the complaint that Mr. Depp is one of the most wanted and highly paid actors in the world. The complaint continues: “He is also the victim of the gross misconduct of his business managers – The Management Group 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.”

Johnny Depp

The actor also states that TMG constantly failed to pay or file his taxes on time. That was costing him $5.6 million in interest and federal penalties. They also loaned almost $10 million to third parties without Depp’s authorization. Johnny Depp also accused TMG for investing his money in business in which TMG had ownership interests.

Depp ended the work with TMG after they suggested him to sell a large piece of property in France in order to stay financially stable. As TMG replacement, Depp hired Edward White who started a full review of Depp’s finances and discovered the financial flaws.

The attorney stated that TMG treated Mr. Depp’s income as their own, available to them or third parties to pull out money any time they want.

Johnny Depp is asking for at least $25 million compensation.

On the other hand the TMG attorney – Michael Kump stated that Depp’s lawsuit is a total fabrication. Claiming that the TMG dedicated 30

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