Johnny Depp is in some major hot water with his former business managers. It’s estimated he owes The Management Group $5 million dollars for a loan that they gave Depp back in 2012, according to a report by TMZ.
As a result of the actor’s massive debt, TMG is going after his assets. And Depp has to be freaking out over which assets they are eyeballing and have already filed documents to force him to sell if he doesn’t pay them back.
The Management Group filed documents Monday to force the sale of 5 of Johnny Depp’s properties to cover the $5 million TMG says it gave the actor. All 5 properties are located in Los Angeles, CA.
In the docs, TMG says it agreed to bail out Johnny when he owed that huge chunk of change to City National Bank … thereby saving him from an embarrassing financial collapse. TMG says the 5 houses were collateral for the loan, and since he’s stopped paying … they want the properties.
Depp’s beef with TMG started in June when he sued the company claiming it mishandled his money, and took out loans in his name … to the tune of $40 mil.
This is all very bad news for the Hollywood actor, who jeopardized his career after making remarks about assassinating the President while on stage in front of a large crowd of people. Here’s the video as a reminder: