Actor Nicolas Cage sues business manager Samuel Levin for $20M claiming 'financial ruin'

Corelli · 5:15 PM, 10/21/09

RE: Nicolas Cage sues business manager for $20M

scorpiolady · Superstar

I agree

, it's not Nic's fault so let's hope they are a bit more understanding in his fight on this case smile

Corelli · 4:32 PM, 10/21/09

I hope it's the accountant that gets taken to jail and not Nic. biggrin

scorpiolady · Superstar

That's just awful that people you think you can trust all your finances do this disbelief , like I said in another thread about it, with all Nic's money you would think he could trust the one person that suppose to keep their feet firmly on the ground and pay all taxes, duties, bills etc,

Good for Nic to sue the guy aww hope he gets every penny and that weazle of a guy gets his just deserts aww

Corelli · 12:52 PM, 10/20/09

It's awful that he has to trust his finances to other people who turn out not to be
trusted. hmm

alienplayground · Junior Member

WAY TO GO NIC!!!!!! I can barely figure out my own taxes. I can not even conceive the complications of dealing with his diverse profile. He is an actor, not a CPA. GOOD LUCK!

The Soldier Girl · Star

Now that just sucks horses ass! Maybe within this law suit, their could be a way to have the IRS fine his manager instead of Nic being as even though it was Nic's money and ultimatly he should know what's going on with it, he legally trusted this guy and the guy was legally accountable for his money?? If he can prove and provide legally binding paperwork to that affect.

Corelli · 6:00 PM, 10/16/09

http://www.nydailynews.com/money/2009/10/16/2009-10-16_nic_cage_sues_business_manager_claiming_financial_ruin.html

Actor Nicolas Cage sues business manager Samuel Levin for $20M claiming 'financial ruin'

BY Catey Hill
DAILY NEWS STAFF WRITER

Friday, October 16th 2009, 12:11 PM

Despite pulling in about $20 million a year, actor Nicolas Cage is in serious money trouble.

The actor is suing his former business manager, Samuel Levin, for leading him "down a path toward financial ruin," according to TMZ.com. Cage asked for $20 million in damages in the lawsuit.

Cage alleges that his manager was reckless with his money, including doing such things as not paying taxes, which is the reason Cage now owes more than $6 million in unpaid taxes and is now trying to sell off many of his real estate holdings, including his castle in England and a home in Hollywood.

"Levin placed Cage in numerous highly speculative and risky real estate investments, resulting in Cage suffering catastrophic losses," the lawsuit, filed in L.A. Superior Court, claims. The lawsuit also alleges that Levin was not upfront with Cage about the actor's real financial situation.

Cage also alleges that Levin "grossly" overcharged him for his services.