Nicolas Cage sues ex-business manager over finances

Monday November 2, 2009

Oscar winner Nicholas Cage's recent money problems have forced him to put much of his extensive property portfolio and other assets up for sale.

And now the National Treasure star has filed a lawsuit, alleging that his business manager, Samuel J Levin, "lined his own pockets with several million dollars in business management fees while sending the actor down a path toward financial ruin."

The court papers state that the actor, "relied on Levin to handle his financial affairs to ensure that he and his family would have a financially secure future built on the foundation of the substantial monies the actor earned through years of hard work."

He is now faced with "huge tax liabilities because of Levin's incompetence, misrepresentations and recklessness," the report adds.

The Leaving Las Vegas star owes several million dollars in unpaid taxes and unpaid loans. Although he has sold off a number of his assets including a rare comic book collection and several properties in California, Las Vegas, and New Orleans, he could suffer up to $20 million in losses.

© Getty Images

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