Nicolas Cage is BROKE

Posted on November 13, 2009

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TMZ has obtained a copy of a lawsuit, filed in L.A. County Superior Court, in which Cage claims Samuel Levin — his business manager — was so reckless and incompetent with his money, that he has now been forced to sell off major assets and investments and is faced with gigantic tax liabilities.

In the lawsuit, Cage — who according to Forbes earned $40 mil between June 2008 and June 2009 — claims over a period of seven years, “Levin placed Cage in numerous highly speculative and risky real estate investments, resulting in Cage suffering catastrophic losses.”

Cage also claims Levin failed to pay taxes when they were due. As TMZ first reported, the IRS has filed liens against the actor for more than $6 million in back taxes.
Cage claims it was only this year, after firing Levin, he learned “the gravity of his financial condition.”Levin never told Cage to put the brakes on buying stuff because he was running out of money.

(Via TMZ)

UPDATE



Johnny Depp to the rescue! The actor has reportedly rushed to the side of his good friend Nicolas Cage, who has recently run into some money problems.

Cage is reportedly $6.26 million in debt to the IRS for failing to pay taxes in 2007. He’s now trying to sell both of his homes, and already sold his German castle for $2.3 million, which is a lot less than what he bought it for.

Cage also has a bit of a spending problem, buying outlandish things like dinosaur skulls, King Cobras, a $500,000 Lamborghini, and even a pet octopus.

A source says, “Johnny called Nic and basically told him not to worry and he’d help him and sort everything out. Johnny feels he owes his career to Nic and now wants to repay him – if Nic agrees.”

You may not know this, but Johnny Depp was a struggling musician when he met film star Nicolas in the 80s. He sent Johnny to his agent, through which he landed his first role in horror franchise A Nightmare On Elm Street.
He went on to become a Holly-wood A-lister and one of the most respected and successful actors in the world.

(Via HollyScoop)

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