Johnny Depp’s former managers have fired back at the “Pirates of the Caribbean” star after he sued them for fraud, filing their own cross-complaint accusing Depp of living “an ultra-extravagant lifestyle” that he “simply could not afford.”
“[T]hroughout the entire 17-year period that TMG represented Depp, Depp lived an ultra-extravagant lifestyle that knowingly cost Depp in excess of $2 million per month to maintain, which he simply could not afford,” the cross-complaint filed by The Management Group, Joel Mandel and Robert Mandel on Tuesday, reads.
Among the ill-considered extravagances alleged in the cross-complaint: Spending $75 million on 14 residences throughout the world; dropping more than $18 million to buy and renovate a 150-foot yacht; and spending $30,000 a month on “expensive wine that [Depp] had flown to him around the world for his personal consumption.”
“Depp also paid over $3 million to blast from a specially made cannon the ashes of author Hunter S. Thompson over Aspen, Colo.,” the lawsuit also alleges.
“In addition to the above, throughout the years, Depp supported his friends, family and certain employees at a cost of over $10 million,” the cross-complaint, filed in Los Angeles Superior Court, claims.
The new legal papers claim that The Management Group “regularly and repeatedly advised and warned Depp … that Depp’s wanton spending could not be maintained and jeopardized his financial future.”
When faced with the warnings, the cross-complaint alleges, Depp “often responded by rebuking and cursing his business managers for issuing such warnings and advice, while increasing his extravagant lifestyle and spending, and demanding that his business managers find some way to pay for it all.”
After Depp’s spending caught up with him, the papers allege, Depp fired the management firm “with no notice of any kind” and refused to pay the company back on a $5 million loan.
“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. In fact, when Depp’s bank demanded repayment of a multi-million-dollar loan and Depp didn’t have the money, the company loaned it to him so that he would avoid a humiliating financial crisis,” a statement from The Management Group provided to TheWrap reads. “Over 30 years, TMG has never been sued by a client. The only reason Depp filed this lawsuit was to interfere with TMG’s ongoing efforts to be repaid on the loan they had made to bail him out. TMG worked day and night to professionally manage Depp’s business affairs, adhering to the highest standards.”
Depp sued The Management Group earlier this month, accusing his former managers of “self-dealing and gross misconduct.” Among the misdeeds that Depp, who is seeking $25 million, alleges: Taking a 5 percent commission of the actor’s income, “in some cases regardless of whether Mr. Depp actually received any income himself or not” — a commission that was “exorbitant, excessive, and far outstripped the actual value of services TMG would be performing for Mr. Depp.”
The cross-complaint filed Monday calls Depp’s claims “absurd and untrue.”
Alleging breach of oral contract, breach of written contract and other counts, the countersuit is seeking unspecified damages.
Pamela Chelin contributed to this report.