Securities Fraud Lawsuit Victim - Nicholas Cage

Actor Nicholas Cage, star of popular movies such as Fast Times at Ridgemont High (1982), Moonstruck (1987), and Leaving Las Vegas (1995), could face two $3 million securities fraud lawsuits stemming to an investment deal gone bad.

According to Access Hollywood, “The star has been struck with another lawsuit, but while on Saturday it was reported that an investment company was suing Cage for $36.7 million by People, and picked up by Access, it appears the lender is actually seeking around $3 million from the star.  “People’s” original report also claimed that the financially troubled actor had been accused of fraud, which has since been determined was incorrect.”

In July, 2007, Cage was allegedly loaned $3.5 million by “Red Curb Investments” and agreed to pay $29,166.67 monthly which includes 10% interest.  “Red Curb Investments” says Cage committed securities fraud by withholding the information that he was in severe debt to the IRS and took the investment to pay back taxes.  The suit goes into a lot of detail over how repayment was structured, but bottom line, Red Curb claims Nic owes a balloon payment of $1,850,269.67 plus and additional $15 million for committing investment fraud.

Investment lawyer, Marty Singer who is representing Cage in this case states, “Any claim that our client engaged in any fraudulent conduct is ridiculous.”

Securities Fraud - Actor Nicholas Cage Involved in Investment Lawsuit