Johnny Depp in extreme $40 million debt as he faces lawsuit from former managers

Johnny Depp's former business managers have accused the actor of living off borrowed funds in order to support his $2 million-a-month lifestyle and are demanding he hand over his financial documents as proof, Daily Mail has revealed.Johnny Depp attends the 'Black Mass' photocall during the 72nd Venice Film Festival on September 4, 2015 in Venice, Italy. (Photo by Vittorio Zunino Celotto/Getty Images)

Depp sued The Management Group in January for $25 million, alleging fraud and negligence. He also accused the LA-based firm, run by brothers Joel Mandel and Rob Mandel, of failing to file his taxes on time and taking out high-interest loans on his behalf. Depp claimed that TMG led him to be more than $40 million in debt.Actor Johnny Depp Spotted On Set of LAByrinth As Actor Sues Managers For $25 million dollars. (Source: Pinterest)


In a countersuit, the actor's ex-managers cited Depp's lavish lifestyle as the cause of his financial 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," the Mandel brothers' attorney, Michael Kump, wrote in the cross-complaint. "Depp, and Depp alone is fully responsible for any financial turmoil he finds himself in today."
Johnny Depp on June 22, 2017 in Glastonbury (Photo by Ian Gavan/Getty Images)


The actor filed the suit the same day his divorce from Amber Heard was finalized.
"TMG did everything within its power over the last 17 years to protect Depp from himself and to keep Depp financially solvent," Kump wrote in his clients' cross-complaint, as E! News first reported.

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