Early this year, Johnny Depp, the “Pirates of the Caribbean” star, made headlines when he took his former management company to court. Depp held that the employees of this company were mismanaging his finances and failing to provide most of the basic services. This week, Depp went to court again suing his former legal counsel for engaging in self dealing and pursuing interests that would only benefit them. Depp wants at least 30 million in damages from Bloom Hergott Diemer Rosenthal LaViolette Feldman Schenkman & Goodman. This recent lawsuit comes to show that Depp has been dealing with professionals who are slowly bleeding him dry.
Misleading Advice Cost Mr Depp Millions
Like many movie stars who rely on the advice of professionals, Depp claims that he depended on his attorneys to deal with his legal affairs ethically and competently. However, instead of protecting the interests of their client, the lawyers violated the basic tenets of attorney-client privilege and engaged in misconduct all to the financial detriment of Mr. Depp.
The lawsuit refers to a loan that is cutting into the actor’s income from six films and providing his lawyer and business manager with millions of dollars in contingency fees. The loan was secured even before Mr. Depp started making money.
According to Depp, TMG and Bloom’s law firm are to blame for the mismanagement of his fortune. The U.S. Department of Justice, SEC, and IRS are looking into possible money laundering, mismanagement, and fraud at TMG.
TMG’s Response to The Law Suit
According to TMZ, Depp disregarded warnings about his lavish $2 million per month lifestyle and his over the top purchases which include several islands in the Bahamas, a 150 foot luxury yacht, 70 collectible guitars, and art works by Gustav Klimt and Andy Warhol. TMG claims that Depp is partly liable for his financial woes.