Being an actor or an actress or a singer is a lucrative profession, so lucrative that many celebrities need to hire accountants and managers to help them manage their money. While many celebrities find honest people do this, there are some who don’t and these unlucky celebrities tend to lose a lot of money as a result. Here are 9 celebrities who took their managers to court for mismanaging their finances:
9. Johnny Depp
In January 2017, Johnny Depp filed a $ 25 million lawsuit against his former managers at The Management Group and two of its attorneys for negligence, fraud and breach of fiduciary duty. According to the complaint, Depp claims that from 1999 to 2016 TMG collected $ 28 million in contingent fees that Depp says he never agreed to. The lawsuit also claims that they failed to pay his taxes on time, which costed him $ 5.7 million in penalties. TMG has since filed a countersuit, alleging that the actor lived an “ultra-extravagant lifestyle that often knowingly cost Depp in excess of $ 2 million per month to maintain, which he simply could not afford.” TMG has also released emails between Depp and his ex-managers where they warned him about his spending. The case is ongoing, but it’s not looking too good for the actor.
8. Alanis Morissette
Alanis Morissette sued her former business manager for breach of fiduciary duty, conversion, fraud and negligence in January 2017 after she was swindled out of $ 4.7 million. Jonathan Schwartz and GSO Business Management were responsible for the singer’s finances from 2009 to 2016 and were responsible for collecting her income, managing investments and paying her bills. When she hired a new business manager, Howard Grossman, he found at least 116 cash transfers to Schwartz from Morissette’s accounts during a four-year period, totaling more than $ 4.7 million. In June 2017, they settled out of court, but the details of that settlement have not been disclosed.
Thanks to: Celebrities – Fame10