Johnny Depp sued for his lavish lifestyle

Johnny Depp’s former business managers have countersued the actor, claiming he ignored their warnings over his lavish lifestyle that cost more than $US2 million ($2.6 million) a month to maintain, causing his recent financial troubles.

Key points:

  • Depp sues management group alleging mismanagement of earnings
  • The Management Group managed Depp’s funds from 1999-2016
  • Group’s lawsuit alleges Depp ignored advice

The countersuit filed in Los Angeles Superior Court by The Management Group comes about two weeks after Depp sued the company, alleging it grossly mismanaged his earnings.

The lawsuit said Depp paid more than $US75 million to buy and maintain 14 homes, including a French chateau and a chain of islands in the Bahamas.

Depp also spent heavily to buy a 150-foot yacht, fly on private jets and cultivate collections of fine art and Hollywood memorabilia requiring 12 storage facilities to maintain, the lawsuit said.

The lawsuit said Depp was repeatedly warned by the company that his spending was out of control, but ignored his former advisers’ advice to control his spending.

“Depp, and Depp alone, is fully responsible for any financial turmoil he finds himself in today,” the lawsuit stated.

Depp sued The Management Group on January 13, seeking more than $US25 million he contends was mismanaged.

His lawsuit also alleged the company failed to file Depp’s taxes on time, costing him $US5.7 million in penalties.

But the countersuit said Depp’s tax returns were always filed on time and taxes were paid when the star had money available to pay them.

The company handled his finances from 1999 until early 2016, an especially lucrative period in the actor’s career.

During that time Depp launched the blockbuster Pirates of the Caribbean franchise and other big-budget releases, including Alice in Wonderland and the 2005 film Charlie and the Chocolate Factory.

Depp’s attorneys did not immediately respond to an email and phone messages seeking comment.

The countersuit seeks a judge’s ruling that Depp is to blame for his financial troubles, and $US560,000 in fees The Management Group said it is owed.

The money being sought comes on top of $US4.2 million the firm announced on January 13 that it was seeking from Depp for repayment of a loan it said it made to the actor.

Depp is not the first blockbuster star to take his former managers to court alleging mismanagement.

Nicolas Cage sued his former business manager seeking $US20 million for alleged mismanagement in 2009 and the manager in a countersuit cited the actor’s spending for his financial troubles.

The case was resolved before trial.

[Source:-ABC]