Nicholas Cage Being Counter-sued by Former Accountant
Oooo, guess what? Oscar-winning actor Nicholas Cage, most well-known for dramatic and powerful roles in movies such as Adaptation (one of my favorites) The Rock and Con Air is now officially being counter-sued by his former business manager Sam Levin with the claim that Cage spent copious amounts of money on luxuries and not his advice which has led to the actor’s real financial detriment. Cage had filed a $20 million lawsuit against Levin for fraud, claiming that Levin led him into financial ruin. Uh-oh, Nick, time to sell the yacht! Or maybe those castles in England?
Levin is claiming he helped Cage selling his comic book collection for $1.6 million and a few cars even after he was fired in 2008, but Cage won’t pay him for his services. Really, Nick? You found the money more valuable than the comics? *Shakes head*
Sam Levin says he worked to forewarn Cage of his spending when he had been initially hired in 2001. According to Levin, Cage had been spending more than he was making (even more than he made for National Treasure? Yikes!) and is now seeking a confirmation from the court that he enacted properly and in the best interest of his client.
Meanwhile, Cage’s lawyer Marty Singer says these claims are ridiculous. Singer also states that it’s a breach of personal privacy for Samuel Levin to release any details regarding Cage’s finances, especially his income from movies. According to Singer, Levin has also been paid $1.3 million over the recent 18 months.
Between tax liens and this possible overspending, Cage is facing some serious debt to the IRS and is literally losing his house over it. I guess the little guy isn’t the only one losing his shirt in these tough times!