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Nicolas Cage sues ex-manager over 'financial ruin'

Oct 17, 2009, 1:08 GMT

Los Angeles - Hollywood actor Nicolas Cage sued his former manager on Friday claiming that he had led him down a path to financial ruin, Access Hollywood reported Friday. US actor Nicolas Cage. In the papers filed in the Los Angeles Superior Court, the National Treasure star alleged that former business manager Samuel J Levin was guilty of 'malice , oppression and fraud,' that caused more than 20 million dollars in damages. EPA/WARREN TODA

US actor Nicolas Cage. In the papers filed in the Los Angeles Superior Court, the National Treasure star alleged that former business manager Samuel J Levin was guilty of 'malice , oppression and fraud,' that caused more than 20 million dollars in damages. EPA/WARREN TODAIn the papers filed in the Los Angeles Superior Court, the National Treasure star alleged that former business manager Samuel J Levin was guilty of 'malice , oppression and fraud,' that caused more than 20 million dollars in damages. Cage alleged that Levin paid himself 'millions of dollars' while putting Cage's money into 'risky' and 'highly speculative' investments. He also allegedly failed to 'timely pay taxes, sending Cage down a path toward financial ruin.' The result is that Cage is 'now forced to sell major assets and investments at a significant loss and is faced with huge tax liabilities because of Levin's incompetence, misrepresentations and recklessness,' the lawsuit said.

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National Treasure

A secret from our nation’s past will lead to the greatest adventure in history. Producer Jerry Bruckheimer (“Pirates of the Caribbean,” “The Rock,” and “Armageddon”) and director Jon Turteltaub (“Phenomenon,” “While ...more

US Release: 2004-11-19
UK Release: -

Nicolas Cage sues ex-manager over 'financial ruin'

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