Johnny Depp Says Ex-Managers' Negligence Led Him to His Current Financial Crisis

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"It's my money," said Depp. "If I want to buy 15,000 cotton balls a day, it's my thing."

Johnny Depp's ex-managers, in a lawsuit, allege that the actor's extravagant spending led to his losing millions of dollars. Depp disagrees. 

"Why didn't they drop me as a client if I was so out of control?” Depp told the Wall Street Journal. "I've worked very, very hard for a lot of years and trusted a lot of people, some who've clearly let me down." 

Depp sued The Management Group in January, claiming that after he fired them, his new business manager discovered misconduct in the form of TMG collecting fees he never agreed to, failing to file Depp's taxes on time and loaning out his money without authorization. Depp believes TMG led him to be more than $40 million in debt. 

In a countersuit, his ex-managers Joel and Robert Mandel said their company did what they could with Depp's finances, but it was the actor's expensive lifestyle that was his downfall. 

"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," attorney Michael Kump wrote in the cross-complaint. "Depp, and Depp alone, is fully responsible for any financial turmoil he finds himself in today."  

Now Depp, seeking $25 million in damages for fraud and negligence, says it is his freedom to spend his money as he wishes. 

“It's my money,” said Depp. "If I want to buy 15,000 cotton balls a day, it's my thing."

Depp added that his ex-managers lied about certain aspects of his lifestyle that they detailed in their suit, which included his 14 residences, the $18 million Depp paid for a luxury yacht and $30,000 per month spent on wine.

"Depp also paid over $3 million to blast from a specially-made cannon the ashes of author Hunter Thompson over Aspen, Colorado," read the managers' cross-complaint. 

Depp corrected that too, saying the cannon cost him $5 million. 

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