Is Nicolas Cage Broke?

Is Nicolas Cage broke? By most people’s standards, he would probably be considered so and he’s suing his business manager because of it.

In a lawsuit that was filed on October 16th in L.A., Cage claims that his business manager, Samuel J. Levin, “lined his pockets with several million dollars in business management fees while sending Cage down a path toward financial ruin.”

Last month he defaulted on a $2 million loan and over the summer, the IRS placed a tax lien of nearly $6.26 million on Cage’s New Orleans properties after he failed to pay income taxes in 2007. It should be noted that this was the same year in which Cage, 42, made some nice money on the back end of Ghost Rider and National Treasure 2: Book of Secrets.

To make matters worse, the IRS filed a second lien over yet more unpaid taxes for income earned between 2002 and 2004. That lien was for an additional $360,545.84.

This spring, in an effort to minimize the damage, Nicolas Cage put two of his properties on the market and had to sell one of his many castles.

Ah, this tight economy is affecting everyone it seems. I don’t know what I would do if I had to sell one of MY castles.

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