According to the complaint, The Management Group failed to file or pay his taxes on time, loaned nearly $10 million of Depp's money to third parties without the star's approval and, as he stated, treated his earnings as if they were their own.
On Tuesday, TMG hit back with an explosive countersuit in which the firm explained the depth of the actor's expenses, with a beyond-the-means lifestyle including the purchase of 14 homes (including a French castle on 18 hectares of prime land), 45 luxury cars, a chain of Bahaman islands, an $18 million yacht, and an entire horse farm in Kentucky.
"Depp, and Depp alone, is fully responsible for any financial turmoil he finds himself in today," according to the countersuit.
TMG claims that while Depp was their client from 1999 to 2016, he spent around $2 million each month on necessities such as wine, celebrity-artist paintings, private planes and round-the-clock security.
"The Management Group did everything possible to protect the actor from himself," TMG attorney Michael Kump said, adding that this is the first time in three decades that the well-known company is being sued by a client.
At one time, Kump claimed, TMG loaned $5 million to the actor so that he would not default on a bank loan. According to Depp's ex-managers, the reason the star filed a complaint against them is "to interfere with TMG's ongoing efforts to be repaid on the loan they had made to bail him out."