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Arts and Entertainment

Johnny Depp in financial crisis due to extravagant lifestyle

By IANS Updated: Feb 01, 2017 10:02 pm

Actor Johnny Depp is in financial crisis due to his monthly expenditure of $2 million to maintain his “ultra-extravagant” lifestyle, claims a lawsuit.
The lawsuit was filed in Los Angeles County Superior Court on Tuesday by his former managers who are asking a judge to rule that the actor has no one but himself to blame for his financial troubles, reports
In addition to owning multiple homes and a luxury yacht, Depp spends $30,000 a month on wine, travels by private jet and maintains 12 storage facilities housing his fine art and memorabilia collections.
The “Pirates Of The Caribbean” star filed suit against The Management Group (TMG) earlier this month alleging mishandling of his finances and seeking compensation of at least $25 million.
But on Tuesday, those managers countersued, opening up a window into his extravagant lifestyle.
In the cross-complaint, Joel and Robert Mandel claim that they and their company did everything within their power to handle Depp’s finances responsibly and repeatedly warned him that he was overspending.
“Depp 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,” wrote attorney Michael Kump in the cross-complaint.
“Depp, and Depp alone, is fully responsible for any financial turmoil he finds himself in today.”
TMG claims Depp’s lawsuit is an attempt to derail foreclosure proceedings the company is pursuing against the actor in an attempt to recover $4.2 million he owes them, reports
The company is suing Depp for breach of contract and promissory fraud, and is asking the court for a declaration that “Depp is responsible for his own financial waste”.
Depp’s attorney Matthew Kanny has not yet commented on the cross-complaint.

By IANS Updated: Feb 01, 2017 10:02:51 pm