America Tycoon: The Wolf of Showbiz
Chapter 737: From Rich to Poor
Mid-April, Hollywood once again burst with news about Johnny Depp, typical of recent years, it was still scandalous.
TMZ was the first to release a report, citing exact information from the IRS that Johnny Depp had not paid taxes for consecutive 7 years and the IRS was in pursuit of the tax payments, establishing corresponding penalty measures.
Subsequently, the IRS Los Angeles branch held a press conference, disclosing Johnny Depp's tax arrears. They would recoup a combined total of 95.6 million US Dollars in taxes, late fees, and fines!
According to external estimates, Depp's income from his acting career wouldn't be less than 650 million US Dollars.
Under normal circumstances, paying off the tax debt shouldn't be a problem.
When facing the IRS, the best approach is to actively pay back taxes.
After all, Hollywood stars aren't exactly powerful forces, nor do they have the capabilities or background like the CIA or FBI.
But Depp sadly discovered he had no money to pay taxes!
Hundreds of millions of dollars in funds had all been invested by the Mandel brothers' company, Mandel Gold Investment Company, with every investment going through Depp's hands, having his authorized signature.
These investments kept shuffling back and forth, earning little to nothing, and many investment projects lost everything. However, as the investment agents, the Mandel brothers took in nearly a hundred million dollars in high commission fees based on the agency contract they had signed.
Depp's account had long been out of liquid cash, with the most recent expenses being the 5 million US Dollars borrowed from the Mandel Gold Company.
As for oversight, the person Depp used to monitor Joel, the investment manager, was Joel's brother, Robert.
Depp was absolutely a super-genius.
An interesting situation had arisen, with the outside world and Depp himself believing that he possessed a wealth of over 500 million US Dollars, yet in reality, it was hollow.
Even more exaggerated was that after entrusting the Mandel Gold Investment Company to manage and handle his finances, not only had all the money vanished, but he also owed the Mandel Gold Company 5 million US Dollars in loans and interest.
This sort of situation was not uncommon in Hollywood or America, and it happened quite often to NBA's black players.
But Depp was worse off than those people because every investment by the Mandel brothers had Depp's legal authorization.
Hundreds of millions of dollars vanishing into thin air, Depp of course was not going to let it slide and immediately sued Joel Mandel and Robert Mandel, accusing the Mandel brothers of financial fraud.
Later, when Depp accepted an interview, he claimed, "Due to the fraudulent actions of Joel and Robert, a large portion of his property had vanished, and now he had to sell fixed assets to pay off the outstanding taxes."
The Mandel brothers responded that every investment had Depp's approval and legal authorization. They stated that Depp's financial problems stemmed from his own extravagance.
The two revealed to the media that Depp had spent tens of millions of US Dollars purchasing an unsuitable island in the Bahamas for residence and tourism development, and millions more to buy vintage cars, which required seven-figure maintenance costs every year.
Then there were Depp's friends, costing him an eight-figure sum annually.
Depp's monthly spending on red wine also amounted to two to three hundred thousand US Dollars.
All of this seemed plausible.
In an interview, however, Depp was contemptuous, "They say I spend two or three hundred thousand US Dollars on wine each month, that's an insult to me!"
The thoughts of a drunkard and drug addict differ from the ordinary, "Because I spend much more on alcohol than that."
The two sides attacked each other, creating a lot of noise.
To gain as much advantage as possible in the subsequent lawsuit or out-of-court negotiations, the Mandel brothers also exposed a series of Depp's unreliable behaviors, not just his financial situation.
For example, Depp had for years stopped memorizing lines, relying entirely on wearing a wireless earpiece and having an assistant at the side of the set act as a human prompter.
Other issues, such as tardiness, heavy drinking, drug use, and absenteeism, were all too common.
When Depp was popular and had significant commercial value, these were not issues at all.
As long as he could generate enough profit, even if he defecated on everyone's head in the crew, the producers wouldn't say a word.
The main problem now wasn't the producers or the media but the tax bureau.
......
Inside the penthouse at the top of Columbia Tower.
Johnny Depp, finally without a drink in hand and clear-headed, faced his lawyer and agent Hui Gemu, indignantly saying, "The tax issue was caused by the Mandel brothers, and I have to bear it? That's not fair!"
Hui Gemu carefully said, "But the tax and penalty bill are directed at you."
The lawyer reminded, "The problem between you and the Mandel brothers is your dispute. The IRS won't entangle themselves in that. Whomever is the person or company owing taxes, they will keep an eye on."
Depp was extremely angry, "I don't give a damn!"
Hui Gemu specifically reminded him, "That's the IRS!"
Depp, as someone who grew up in America, certainly knew how frightening the IRS could be. He slumped onto the sofa, facing the ceiling, and said, "I'm about to go bankrupt, how am I supposed to pay the IRS the tax payments and fines!"
No one around him spoke.
Amber Heard sat silently in the armchair, as her husband Depp's situation was extremely bad right now, with cash flow dried up and only some fixed assets left. He could possibly go bankrupt if things were mishandled.
What did she see in Depp when she married him?
It definitely wasn't the so-called charm of a captain, and it couldn't possibly be Depp's alcoholism and drug addiction, or the other messes.
Of course, it was the money, the fame, and everything that came with them.
Amber glanced at Depp, with his hollowed-out eyes, heavy bags under them, a listless demeanor, and a pervasive smell of alcohol that couldn't be waved away.
Then she thought about Musk whom she had met recently, who was truly a hundred times better than Depp.
It was time for a divorce, Amber decided in her heart, and began to calculate secretly. She needed to find a good moment because she had invested her youth and, as a corresponding return, she must take something from Depp.
With Depp's current situation not being good, she didn't plan to be too hard on him. Nine figures were out of the question, but eight figures would be enough.
Amber looked at Depp again, finding him deficient in every respect, flawed through and through.
Agent Hui Gemu advised Depp for a while and then suggested, "Liquidate the fixed assets and pay off the IRS taxes and fines first. The longer it's dragged out, the more disadvantageous it is."
The lawyer timely reminded, "Once the IRS taxes and fines are overdue, they will incur interest for late payment, compounded daily, which will greatly increase the amount."
He provided Depp with an example, "It's for this reason that Nicolas Cage still hasn't paid off his back taxes."
Cage, in order to pay back taxes and the subsequent expenses, took on any lousy movie in recent years, but the debt still seemed insurmountable.
Depp had heard of this too and said, "Alright, let's sort out my fixed assets. I want to see the specific list, and sell off what can be sold quickly."
He never imagined he'd fall to this day, "You guys handle it as quickly as you can."
Hui Gemu nodded slightly.
The lawyer also had to deal with Depp's lawsuit against the Mandel brothers and couldn't waste more time here, leaving first.
Depp suddenly thought of something and asked his agent, "I remember there's a payment of eight million US dollars from 'The Lone Ranger' crew that they haven't paid me yet. Contact them quickly and have them pay me this money."
Hui Gemu said, "I'll personally make a trip to Anna Purna Pictures and negotiate this matter with them."
Depp was tired. He needed to drink and take drugs and waved his hand dismissively.
Hui Gemu left Columbia Tower and headed straight to Anna Purna Pictures.
But his proposal for 'The Lone Ranger' crew to expedite the payment of the final eight million US dollars to Depp was rejected by Megan Ellison.
"According to the terms of our supplemental agreement, the production company has the right to postpone the last payment until after the film's North American release." The recent troubles surrounding Depp had worn out Megan Ellison, and she didn't even know where to start with crisis management. There were simply too many of Depp's messes for Anna Purna's PR efforts to handle effectively.
She gathered her strength and said, "You must keep Depp in check and not let him generate any more negative news!"
Hui Gemu defended Depp, "This affair isn't really related to Depp. He too is a victim, deceived by an investment manager in collusion with an accountant! Miss Ellison, with your extensive experience, you should understand the intricacies of such events."
Megan, of course, saw through the smokescreen and didn't dwell on it, then asked, "And the assault on Martin Davis? Has Depp lost his mind?"
Hui Gemu said, "It was Depp's three friends who couldn't stand watching Martin Davis push Depp around and took spontaneous action. It had nothing to do with Depp."
Megan thought about the sordid sequence of events that had occurred between 'The Lone Ranger' and 'The Martian' crews and she couldn't help but shake her head slightly.
Those idiots of Depp's had instigated an assault, and if they were going to do it, they should at least have flipped Martin Davis's car. But those idiots missed both the car and the person and ended up screwing themselves over.
According to the information she received, the idiot who drove the Hummer at Martin's car might be prosecuted by the Los Angeles District Attorney's Office for public endangerment and attempted murder, in addition to DUI, and it was inevitable that he would spend a few years picking up soap in prison.
Hui Gemu argued vehemently with Megan Ellison, but she was very assertive, and the result he ultimately got was still a "NO"!
Johnny Depp, eager to resolve his tax crisis, could only do so by quickly liquidating his fixed assets.
......
Beverly Hills, Sunset Boulevard North District.
Bruce, driving the Escalade, turned into the gates of the Davis Estate.
Harris Carter, the second of the four Carter siblings, curiously looked through the window at Martin's Los Angeles mansion.
The car arrived in front of the villa.
Harris saw his sister Lily, the familiar figure of Martin, and a blonde woman holding Martin's arm, just like Lily did.
He had seen her in newspapers and knew she was Cola Cult's priestess and Martin's girlfriend in Hollywood, Elizabeth Olsen.
The car stopped, and Lily opened the door from the outside.
Harris smiled at his little sister, but before the smile could blossom, Lily greeted him with an Atlanta accent, "Idiot, hurry up and get out."
"Uh…" Harris put his smile away, jumped out of the car, and looking towards Martin who was approaching, asked, "Boss, what did you want to see me for?"
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