Back in October there was a celebrity buzz that started stating that Nicolas Cage has gone broke and possibly filing for bankruptcy. How can that be? Afterall, he is one of Hollywood’s highest paid actors. It was said that he owes the IRS more than $6 million in unpaid back taxes! Cage blames and files a lawsuit against his business manager Samuel J. Levin for $20 million stating that he took several million dollars in business management fees and left him in financial ruin. Levin was responsible for looking over his finances and advised him to invest in real estate.
Nicolas Cage has been busy selling his properties all around the world to cover his debt. He has real estate in California, Nevada, Louisiana, and Rhode Island. He also has real estate property all over Europe. The 11th century German castle called Schloss Neidstein is one of the properties he has sold. He is also selling other possessions such as his cars and yachts.
The latest update is that his ex-girlfriend, Christina Fulton, mother to Cage’s eldest child Weston, is suing him for fraud and breach of contract. She claims she is also affected by Cage’s financial trouble. She is now in about $1 million dollars in debt. She says that Cage was supposed to pay her credit card bills but they haven’t been paid and is racking up on finance charges.
Maybe Nicolas Cage should start looking for a really good bankruptcy lawyer and next time hire a more dependable financial advisor. He should get some references from some other fellow celebrities.
