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Johnny Depp says ex-managers are to blame for $40M debt

By Wade Sheridan
Johnny Depp attends the premiere of "Alice Through the Looking Glass" on May 23. Depp has responded to a lawsuit filed by his ex-managers who say its his fault for losing millions. File Photo by Jim Ruymen/UPI
1 of 2 | Johnny Depp attends the premiere of "Alice Through the Looking Glass" on May 23. Depp has responded to a lawsuit filed by his ex-managers who say its his fault for losing millions. File Photo by Jim Ruymen/UPI | License Photo

April 27 (UPI) -- Johnny Depp fired back at his former managers who say in a new lawsuit that the actor is at fault for being $40 million in debt due to his extravagant spending.

"Why didn't they drop me as a client if I was so out of control?" the Pirates of the Caribbean star said of The Management Group when speaking with the Wall Street Journal about the lawsuit.

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"I've worked very, very hard for a lot of years and trusted a lot of people, some who've clearly let me down," he said.

Depp sued the Los Angeles-based firm run by brothers Joel Mandel and Rob Mandel for $25 million in January for fraud, negligence, for failing to file his taxes on time and for taking out high-interest loans on his behalf.

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In their countersuit, TMG stated through their attorney Michael Kump that 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."

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"Depp, and Depp alone, is fully responsible for any financial turmoil he finds himself in today," the complaint continues.

The 53-year-old says TMG lied about certain aspects of his lifestyle in their suit including information regarding his 14 residences, the $18 million he paid for a yacht, the $30,000 spent on wine every month and how they said he paid $3 million to have the ashes of author Hunter Thompson blasted from a cannon over Aspen, Colo.

Depp noted that the cannon actually cost $5 million. "It's my money," he said. "If I want to buy 15,000 cotton balls a day, it's my thing."

"We look forward to responding to Mr. Depp's latest falsehoods in our amended pleadings," David Shane, spokesman for TMG said Tuesday. The company is seeking $560,000 in unpaid fees and a ruling that states Depp is responsible for his current debt, E! News reports.

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