According to new legal documents, Johnny Depp was oblivious that his former management team used his assets to secure $40-million worth of loans to cover up for mishandling his money.
As we reported, Johnny is suing TMG (his ex-business managers) for fraud claiming that the company started taking out the loans in 2006. The largest was $22-million from City National Bank - but the real issue? Depp's properties were used as collateral.
Loans aside, Depp says TMG forgot to cancel the lease on a hospice home for his ailing mother, which ended up costing him $350k. There were other spending issues with Depp's cash, like TMG allegedly paying Depp's neighbor $3,000 per month starting in 2007 to resolve a property dispute. The grand total of the payments to date? $320,000.
Johnny discovered something was funny with his money in 2015 when TMG told him he'd need to unload a chunk of his French property just to "remain solvent." Depp is asking for a minimum of $25-million.