Updated November 3 – Why is Nicholas Cage broke? Nicolas Cage maybe broke. How can Cage be broke? Cage owned castles all over the world. These properties have made Cage broke! Look at some of the 14 Cage properties around the world here.

Cage made news recently when he sued his former manager, Samuel Levin, for mis-management. Cage is now allegedly broke enough to be selling his properties.

Cage said his ex manager Levin deceived him and brought him to ruin. Cage is feeling broke as he is forced to have a liquidation sale. Cage has filed a lawsuit to sue his business manager for $20 million.

Why did Nicholas Cage sue Samuel Levin? Nicholas Cage sued his business manager, Samuel Levin. Cage claimed Levin mis-managed his assets and caused him financial ruin. Cage filed a lawsuit in LA County Superior Court.

Cage claimed Levin caused him to lose money and he was forced to sell away his assets, investments and face tax liabilities. Levin managed Cage’s businesses for the past 7 years. Cage said Levin put his money in risky real estate investments and lost money.

Cage said that it was the responsibility of his business manager Levin to pay his taxes punctually. Consequently, the IRS has filed a liens against Cage for $6 million in back taxes. Cage has fired Levin and found out the truth about his dire state of financial affairs.

Cage is represented by Marty Singer. Cage alleged Levin failed to give proper advice on financial matters. Cage claimed Levin over-extended his credit line with banks. Cage said he was unaware he was running short of money while buying assets. Cage accused Levin of failing to warn and advise him of his finances.

Nicholas Cage wants to sue Samuel Levin for a minimum sum of $20 million. Cage claims he paid Levin millions and was over-charged for business services.

Forbes estimated that Cage earned about $40 million from June 2008 to June 2009. Cage is the owner of several castles around the world.

Please click here for more recent posts.

This entry was posted on Friday, October 16th, 2009 at 10:13 pm and is filed under Gossip.