Nicolas Cage's Business Manager To Blame For Financial Woes
Somebody's getting sued BIG TIME!
Nicolas Cage is suing his former business manager Samuel Levin for at least $20 million to repair his life of "financial ruin."
Apparently Levin screwed Cage over majorly with "highly speculative and risky real estate investments, resulting in…catastrophic losses" as well as not paying his taxes on time.
Consequently Cage has had to sell major assets and investments as well as now being in a HUGE hole with the tax man.
Remember, Cage owes the IRS $6 million in back taxes!
Furthermore Levin wasn't truthful about the finances available to Cage and never told him to reel it in when it was absolutely necessary. You know, when he was running out of money!!!
On top of all this Cage was paying Levin a salary of millions!
When it comes to cash, you really need to be careful who you trust.
And always check the books!
[Image via WENN.]
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I think it's crazy that some of these celebs just totally hand over the cash and have no part in the decision making process of their finances. An investment banker is one thing, but not even knowing what you're spending or how much you have??
It's like there's some sort of time delay. You always seem to be 3+ hours behind the folks at Tee Mmm Zee. You should start time stamping your posts so we can see how long it takes you to cut-n-paste from their web site.
Ego. These celebs think they're above being ripped off like common folk
You are the slowest website poster in the world. Nic Cage is one of the worst actors in the history of movie making to make it so big. Ok Ben Afflect is worst but not by much. Not sure why some celebs are so unaware of what is going on with their own money. Well Cage just needs to make a few more horrible movies at 15 to 20 million each and be right back in the riches. So I do not feel to bad for him.
Re: onceinawhile – (my original comment was going to be) AGREE! How do they have four castles and no clue wher their money is??
He's an ACTOR not an Investor/ Speculator… he is not to blame
You need to buy real estate yourself stupid.
Nick Cage has been known around town as a big spender with little self control. I feel bad for Sam Levin, who, like most people in his position, take the blame for a client getting themselves into financial trouble and then acting like the innocent victim of an unscrupulous business manager…
OLLDD PEOPLEEE
Hired help or not he had some responsibility to oversee the big financial picture.
What the hell happened to him? I used to think he was sexy, but not anymore.
okay i can see that..but he has nothin in the bank for desperate times?? come on.
You think you'd keep better tabs on your OWN MONEY…I'm just saying…
Cage shoulda hired me to manage his money. I would have fucked him over for a salary of hundreds of thousands, not millions, so he could have saved a lot of money.
I blame bush he gets the blame for all things