Overspending & Debt! Johnny Depp Emails Reveal Actor's Shocking Financial Troubles
Johnny Depp's legal troubles are in full force this summer, with the actor's financial woes exposed in a bitter suit with his former business managers.
As RadarOnline.com readers know, the 54-year-old sued The Management Group earlier this year, demanding $25 million over allegations of fraud and mismanagement.
But now, Depp's ex-managers have fired back with email evidence, claiming the star was negligent with his earnings despite advisement concerning his crippling $40 million debt.
In new court documents, TMG submitted 11 email correspondences between Depp, his sister Christi Dembrowski, lawyers, agents, managers and bankers, E! reports.
"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," TMG argued. "If TMG was 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."
One email from 2010, written by Depp's business manager Joel Mandel, revealed that the Pirates of the Caribbean star's bank accounts were overdrawn by nearly $4 million.
Other conversations focused on Depp's signature, which was needed to sign off on a $6 million loan and other related documents.
In 2009, Mandel wrote Depp directly over his bad spending habits, suggesting that the star "take it easy on holiday spending" and "discuss some dollar limit" on participating in a Dillinger Museum auction.
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Later, Mandel requested an in-person meeting with Depp "to talk about where we are financially, what we have borrowed in order to sustain ourselves, what we have had to do to obtain those borrowings, what is now necessary to pay those borrowings back, and finally, to look realistically at income and expenses to work together on how to make sure that these are back in balance."
"I am doing my very best on holiday spending, but there is only so much I can do, as I need to give my kiddies and famille as good as Christmas as possible, obviously within reason," Depp responded one day later, court documents reveal.
As for cutting costs by flying commercial, the actor refused to risk a run-in with paparazzi, writing: "That would be a f*****g nightmare of monumental proportions."
Depp then offered that his upcoming projects would help ease any financial woes, with an expected $20 million in earnings for The Tourist, $35 million for Pirates Of The Caribbean: On Stranger Tides and $20 million for Dark Shadows.
"I don't like being in this situation, but there wasn't a whole lot of choice, as The Rum Diary was a sacrifice we knew would be happening and the last proper paycheck was Public Enemies," he added, offering to sell some of his possessions as a last-ditch effort.
Story developing.
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