Johnny Depp’s Former Managers File For Foreclosure On His Homes

Daily Caller:

Johnny Depp’s legal battle with his former financial advisors, The Management Group, is far from over and just took a bad turn for the “Pirates of the Caribbean” star.

getty

The Management Group filed an “action for judicial foreclosure” against Depp on Monday to force a sale of five of the actor’s homes in Los Angeles to repay a $5 million loan from TMG, Deadline Hollywood reports.

Depp’s legal battle against his former management team began about a year ago when the “Murder On The Orient Express” actor filed a $25 million fraud suit against TMG for mismanaging his finances. Over the back and forth between the two parties it’s become clear that Depp was largely responsible for his own financial ruin and repeatedly refused to give up his lavish lifestyle and assets to compensate for it.

The move to file for foreclosure by TMG on Monday is an attempt to get reimbursed by the actor for a $5 million loan they gave him in 2012.

“TMG agreed to come to the aid of its long-time client,” the complaint says referencing a loan from City National Bank to Depp, for which TMG got a “pass-through” on behalf of the actor. “The idea behind this arrangement, which was designed to save Depp from a public and devastating financial collapse, was that Depp would pay TMG what TMG was required to pay CNB under the loan.”

The complaint notes that Depp, his sister and his personal manager were grateful to TMG for helping him at the time and paid back part of the loan, but he still owes “well over $4.4. million” to the financial group.   read more here

19 Comments on Johnny Depp’s Former Managers File For Foreclosure On His Homes

  1. Johnny life in Hollywood can be Long or Short, but it can’t be Long if you don’t pay those who keep you there ! Like any other Job !!!

  2. “Drunk, stoned and stupid is no way to go through life, son.”

    Obnoxious guy. Creepy roles. Good riddance.

  3. “Depp was largely responsible for his own financial ruin and repeatedly refused to give up his lavish lifestyle and assets to compensate for it.”

    spoiled ?

    should have banked all those millions while he was making them and retired to a caribbean island resort after his 15 minutes were up.

    he could be living like a king drinking his life away in a tiki bar on the beach.

  4. he did buy an caribbean island, wonder if that’s for sale too, unfortunately that mean more pirate movies…aargh! why is the money always gone??

  5. Why no accusations from women and/or children and/or, men for sexual assault, harassment?

    Oh, completely broke? Doubt it.

  6. it always puts a smile on my face when I read about one of these loudmouthed Hollywood types taking a financial bath because of their stupidity. They tend to preach to us about their own liberal positions and can’t take care of their own business. Depp has literally thrown millions of dollars out the window, pardon me if I have no sympathy for him or anyone of his ilk.

  7. Johnny, is the US still like an untrained puppy? Or were you looking in the mirror when you said that? Cause you thought you were brilliant when you were talking trash about the US on your foreign press junkets. Turns out not so much.

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