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Johnny Depp Settles $25 Million Fraud Suit With Ex-Business Managers

Johnny Depp Settles $25 Million Fraud Suit With Ex-Business Managers

Johnny Depp has settled his lawsuit with his ex-business managers.

Earlier this year, the 55-year-old actor sued his former business managers for $25 million over allegations of fraud and mismanagement.

In turn, the the company fired back with evidence that Johnny and his team were aware of his dire financial situation before he reportedly learned about $40 million debt.

According to E! News, both parties have come to an agreement.

“Both sides reached a settlement, this matter is settled. TMG and the team are very happy,” a source explained.

Johnny is currently in the middle of another lawsuit for allegedly punching a crewmember on a movie set.

Here’s Johnny‘s statement on the settlement: “Johnny Depp is pleased to have achieved a settlement agreement with The Management Group following the legal action he took against the company in January 2017. The lawsuit taken out against The Management Group -– and the subsequent settlement — is a further demonstration that Johnny is determined to take firm action to protect his personal and artistic reputation in the interests of his family and his career.”

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Photos: Getty
Posted to: Johnny Depp

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  • reindeer

    Maybe TMG is very happy for not going to court. It seems they have done really bad work for the 28 millions they paid themselves.