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November 2nd, 2009
05:48 PM ET

Documents: Nic Cage alleges fraud from former business manager

Program Note: Randi Kaye reports on the financial demise of Academy Award winning actor Nicolas Cage. Watch her full report tonight on AC360° at 10 P.M.

AC360°

Actor Nicolas Cage filed suit early last month in California claiming that his former business manager has swindled millions of dollars from him since 2001. Cage alleges that Samuel Levin has "lined his pockets with several millions of dollars in business management fees while sending Cage down a path toward financial ruin."

The Academy Award winner owes more than $6 million in back taxes and his properties in California, Las Vegas and New Orleans have been foreclosed and are designated for auction later this month. Cage claims that he is unsure of the full amount Levin has stolen but believes the amount is in excess of 20 million dollars.

Read the full briefing of Cage's lawsuit...


Filed under: Crime
soundoff (8 Responses)
  1. Leigh Kamp

    This morning I heard the CNN reporter saying "A fool and his money is soon parted". Perhaps it would be better to say to Nicolas Cage; "A fool and your money are soon partners".

    November 3, 2009 at 9:27 am |
  2. alisha h

    Wow. Won't he be fine with a couple less houses?

    November 3, 2009 at 5:47 am |
  3. Kat Fud

    My uncle lost his house when his business "partner" deliberately withheld taxes, then skipped the country, leaving my uncle to hold the bag.

    Books and investments must be audited regularly. "Trust" is for deities. Accountants are for business dealings.

    November 3, 2009 at 12:33 am |
  4. Bill

    Where are the criminal charges from IRS for not paying taxes on all of Obama's Czars and all those in congress that haven't paid taxes. Why should Cage have to face criminal charges unless those face the same?

    November 2, 2009 at 11:57 pm |
  5. Dee

    I could understand, I worked for them they never paid!!!

    November 2, 2009 at 11:52 pm |
  6. scott

    if cage owes IRS 6mill why sell all his homes, one home alone could pay the debt?

    November 2, 2009 at 11:21 pm |
  7. Rich

    I don't buy it. He bought a castle in Germany and simply lived beyond his means. Celebrities need to manage their money just like everybody else and stop blaming others for their problems.

    November 2, 2009 at 10:42 pm |
  8. Mike S

    how could this happen?

    November 2, 2009 at 7:24 pm |