Recently leaked documents reveal one of Hollywood’s favorite actors, and the star of the Pirates of the Caribbean series, has more of a spending problem than recently thought.
According to the legal documents, the A-list actor charged more than $500,000 in rental fees for storage warehouses that hold his Hollywood collectibles. He spent another $17,000 in handbags and luggage at Prada, and $7,000 for a sofa seen on ‘Keeping Up With the Kardashians’ as a gift for his daughter, Lily-Rose. This information was revealed in an amended cross-complaint by his former financial management team, The Mandel Group (TMG).
These new revelations of his extreme spending habits surfaced this week amid an ongoing lawsuit that Depp filed against his ex-managers for $25 million claiming fraud.
TMG immediately hit back with a cross-complaint of fraud, insisting that Depp owes the agency more than $560,000 in unpaid commissions and credit card fees. The agency argued that his lavish lifestyle is to blame for his financial woes, not mismanagement on their part.
However, Depp claimed he was kept “ignorant” of his financial issues.
Earlier this month, Superior Court Judge Teresa Beaudet ruled that Depp’s expenses were not relevant in TMG’s cross-complaint against the actor.
That is, until Friday, when TMG filed a second complaint detailing even more of Depp’s extravagant spending habits.
His former financial managers allege that Depp’s employees on his private island in the Bahamas racked up about a million dollars in charges related to the island’s expenses for his wedding to Amber Heard, which only a dozen people attended.
The documents also revealed that Depp spent $9,500 for safari-thatch used for huts on the island and $7,000 in Tom Ford suits that were charged to his credit card. TMG claimed it warned the actor that all the spending on the island would inevitably bankrupt him.
According to the filing, the managers also stated they had to pay off a large portion of the balance after Depp discontinued making payments on the credit card.
“After terminating TMG in mid-March 2016, Depp continued to make the minimum payments on the Visa card for a time but then refused to pay anything further, forcing TMG to pay off the approximately $55,000 that was still owing on the Visa card,” writes attorney Michael Kump. “All charges on the Visa card are undisputedly charges that were incurred on Depp’s behalf similar to, and/or including, the exemplar purchases discussed above. Depp knows all of these expenses were incurred by and/or on his behalf, but simply refuses to pay his debts.”
TMG has amended the complaint and is now asking the courts to declare “(a) that there exists a valid and enforceable agreement between TMG, on the one hand, and Depp and his loan out corporations, on the other hand, for professional services and payment of 5% of Depp’s gross revenues; (b) that neither Depp nor his corporations are entitled to disgorgement and/or restitution of any fees paid to TMG; and (c) that in the event there is finding that the California Rules of Professional Conduct apply here and there has been a violation thereof (which TMG denies), then TMG is entitled to a ‘reasonable fee.'”
TEAM DML blankets on sale now for Christmas (BUY NOW)
If you would like to receive Breaking News text alerts on a smartphone or tablet, download the DML APP which is completely FREE and easy to use. Go to the Google Play Store or the IOS App Store and search for DML APP. Be sure to keep the app’s notifications setting on. Another way to receive alerts is to text to 40404 the following message: follow @realdennislynch (be sure to put a space between the word follow and the @ symbol).
To see more stories like this, sign up below for Dennis Michael Lynch’s email newsletter.
Sign up to get breaking news alerts from Dennis Michael Lynch.