He also look at more info says TMG was self-dealing by investing his money in business ventures in which they had ownership interests. Depp fired thefirm last March, after TMG informed him that he’d need to sell a large piece of property in France to remain financially solvent. He then hired Edward White who engaged in a full review of Depp’s finances and discovered the alleged mismanagement. “In essence, TMG treated Mr. Depp’s income as their own, available to either TMG or third parties to draw upon as desired,” writes Kanny. “Adding insult to injury, TMG has now sought to foreclose on Mr. Depp’s primary residence, even though the alleged loan secured by Mr. Depp’s residence was made through TMG’s self-dealing and conflicts of interest, and the purported ‘default’ occurred solely as a result of TMG’s own misconduct.” Depp is seeking damages of at least $25 million, disgorgement of TMG’s profits from any unlawful conduct, rescission of a promissory note lending $5 million to TMG and an injunction to stop the company from foreclosing on any of his properties. Michael Kump, attorney for TMG and the Mandels, issued a statement Friday calling the suit a complete fabrication. “For 30 years, Joel and Rob Mandel, and their company The Management Group, have been trusted business managers to some of the most successful individuals and companies in the entertainment business,” says Kump.
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