Johnny Depp‘s financial problems have been exposed in the bitter legal war with his former managers. As fans may already be aware, the famous actor sued The Management Group earlier this year, demanding $25 million over allegations of fraud and mismanagement of his finances.
His managers, however, have fired back with email evidence that proves the star was negligent with his money and ignored their professional advice despite huge $40 million debt.
TMG submitted 11 discussions via emails between Depp, his sister Christi Dembrowski, lawyers, agents, managers, and bankers.
‘Depp wants to deny this discovery because it will establish that TMG did everything within its power to make Depp, and all of his closest advisors, fully aware of Depp’s financial condition. If TMG were trying to hide Depp’s finances to cover-up their alleged misconduct, they would not have repeatedly advised Depp’s long-term personal lawyer, Jake Bloom, and his longtime agent, Tracey Jacobs, regarding the situation,’ a company rep claimed in the legal documents.
One particular email written back in 2010 by the actor’s business manager Joel Mandel, reveals that his accounts were overdrawn by $4 million.
Other conversations were about needing Depp’s signature to sign off a $6 million loan.
One year earlier Mandel wrote the star and suggested him to take it easy with the spending over the holidays.
He also told him they should choose a spending limit before participating in a Dillinger Museum auction.
Later, Mandel requested an eye to eye meeting with Depp in order to discuss what was borrowed and how to give it back as well as many other financial technicalities.
According to court documents, Johnny answered one day later, telling Madel that he is doing his best at restricting his holiday spending, but he still needs to give his kids the best, obviously, within reason.
About saving money by flying commercial Depp stated that it would be a nightmare because he could run into paparazzi.
Depp then said his upcoming projects, The Tourist, Pirates of the Caribbean and Dark Shadows would help cover his debt.
As a last ditch effort, he offered to sell some personal possessions.
What do you think about Johnny Depp’s financial situation? Do you think it was his fault of TMG’s?