Johnny can’t depend on anyone

Johnny Depp has agreed to settle a lawsuit, in which he accused his former business managers of negligence and dabbling in fraudulent activities with his money.  The amount of money Depp was looking to recover was $25 million.  Depp played the role of victim, claiming the firm did not uphold their fiduciary duties to him.  He blamed Joel and Robert Mandel of the Management Company, who managed Depp’s affairs for 17 years, for issuing loans to outside entities without Depp’s knowledge, and investing the actor’s money in opportunities for which the managers could also claim stake.  Depp also accused the Management Group of failing to file his taxes in a timely manner.  Despite these accusations, Joel and Robert Mandel filed counterclaims in the lawsuit. Continue reading →