It's not just Amber Heard hurting him; Johnny Depp is on verge of financial ruin

TMG claimed that the actor's "voracious" spending is the reason why he is in the financial turmoil.

Johnny Depp as Captain Jack Sparrow
Johnny Depp as Captain Jack Sparrow (Twitter)

A lot has been written recently about Johnny Depp -- divorce, love life, dating rumours and litigation woes. The latest is that the Pirates of the Caribbean star has been on a spending frenzy after his divorce with Amber Heard. Reportedly, the actor spent over £21 million in 2016 since the woeful times started for him. Daily Mail reports that he is now spending an outlandish" £24,000 on wine, £238,600 on staff salaries, and £159,000 for his assortment of private jets." Now, the conditions are spiralling out of control and Depp is on the verge of financial ruin, the reports say.

Recently, the actor sued The Management Group (TMG) for mishandling his money. However, in response, TMG claimed that the actor's "voracious" spending is the reason why he is in the financial turmoil.

Previously, Depp "dished out £8 million on art and expensive guitars, £14 million on a yacht, and even spent £2.4 million to shoot a friend's ashes out of a cannon into space. He also owns several estates around the world and a fleet of luxury cars," inquisitr reported.

According to USA Today, Depp claimed that TMG did not inform him properly about the condition of his finances. He also claimed that TMG took out loans in the actor's name and they did not file his taxes in time, for which he had to spend more than £4.5 million.

Depp's lawyer, Matthew Kanny, explained, "Mr. Depp is one of the most sought after and highly paid actors in the world," He further added: "He is also the victim of the gross misconduct of his business managers who collected tens of millions of dollars of contingent fees, purportedly based on an oral contract, all at Mr. Depp's expense."

According to The Hollywood Reporter, TMG claimed that Depp owes them around £3.3 million. The management firm said: "Depp lived an ultra-extravagant lifestyle that often cost more than [$2 million] (£1.6 million) per month to maintain, which he simply could not afford. His voracious spending consistently outpaced his earnings," court documents read. "Depp and Depp alone is fully responsible for any financial turmoil he finds himself in today."

However, Depp did not comment on his financial situation or about his spending habits.

This article was first published on February 7, 2017