Nickie needs some dough

File this under the "Just when you think things are going good Dept."

Nicolas Cage sues ex-manager for "financial ruin"Reuters - 1 hour, 27 minutes ago

celebs:Nicolas Cage
LOS ANGELES (Reuters) - Actor Nicolas Cage filed a $20 million lawsuit against his former business manager on Friday, accusing him of negligence and fraud that sent the "National Treasure" star "down a path toward financial ruin."

Cage claimed that his recently-fired business manager had failed to pay taxes when they were due and had placed him in speculative and risky real estate investments "resulting in (the actor) suffering catastrophic losses."

In a lawsuit filed in Los Angeles Superior Court and first obtained by celebrity web site TMZ.com, Cage said he had now been forced to "sell major assets and investments at a significant loss" because of the actions of his business advisor and accountant over the past seven years.

The lawsuit said the advisor had also failed to alert Cage to the fact that his money was running out, and had over-extended his lines of credit with banks.

The former business manager, Samuel Levin, could not be reached for comment on Friday.

Cage, 45, is one of Hollywood's most prolific actors with more than 50 movies to his name, including an Oscar-winning role as an alcoholic in "Leaving Las Vegas" and action movies such as "Face/Off" and "Gone in Sixty Seconds".

Cage earned some $40 million last year according to Forbes.com and has six movies expected to hit theaters in the next two years.

He was recently hit with a claim for $6.6 million dollars in back income taxes, interest and penalties by U.S. authorities.

Cage said he did not realize the extent of his problems until September 2008 when he hired a new business manager. He asked for $20 million in damages, saying that his reputation has been "irreparably tarnished."

(Reporting by Jill Serjeant; Editing by Bob Tourtellotte)
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MY TAKE: It's OK, Nickie boy. We'll buy your cars. What do you own?

I saw on one website he owns a Enzo
http://jalopnik.com/5143657/nicholas-cage-drives-a-ferrari-enzo

Same site,different place says he was selling his 456 on eBay (I think he
drove it in a movie so can write the expense off for that)

He probably didn't own the F430 that he was filming a movie with in NYC
and it crashed into a Sbarro restaurant

Another website said he drives a 575 Maranello

I know he owned a ex-Shah of Iran Miura for awhile. I bet his investments in cars have paid off more than the shaky real estate deals his advisor steered him into....
but with six movies coming out in the next year, I won't feel too sorry for him

 

Not a fan of Cage movies. I think he's a terrible actor. Only minimally better than William Shatner... Can't understand how he's still in the biz.

 

Far too emotionless to be a "good" actor, but I do enjoy the action movies he's typically in. Not sure how he lands those though since he's about the last person in the world I would consider an "action star".

 

Damn.
I loved him in Family man.
Eric

 

Ah the joys of nepotism...

It helps to be related to big dogs in the biz...

 

You have to be right here because that is the only way he would land any of those gigs - he is a terrible actor.

 

Im still waiting for him to introduce himself in a post here on Fchat!

 

Just about the time they were filming Nat Treas 2, I'd guess.


(Mmm. Diane Kruger ... *-* Sorry, what was the topic? )

 

Wait, wait. By the business deals or his movie role choices?

 

Wait, wait...... Isn't that what his lien is?

(didn't want to look it up)

 

I know he owned a nice 355 spyder I believe with a red interior a while back... I was contemplating it once.

 

I liked him in Raising Arizona & Leaving Las Vegas. That's about it, not much of a fan of his other work.

 

Agree totally... loved those two movies, the others... not so much.

Having said that, I don't take any pleasure in seeing someone be swindled. If what he claims is true, I hope his manager pays dearly.

And having said that, it is each of our responsibility to keep an eye on our money and investments. It seems foolish to give someone total control to the point where they can really screw you out of your livelihood. Nick had no checks and balances in place.

I feel for the guy, I hope he comes out of it. Like his films or not, he earned that money and it sucks to have it taken from you illegitimately, if his claims are true.

 

yep, he was great in those two movies, Leaving las Vegas was a masterpiece.......and the national treasure series, well that is decent story telling no matter what/who is in them.........

"im jus sayn"


doug

 

6.6 million in his case is like 100 dollars. I doubt he's actually suffering much. He can make another film and make another $40 million overnight. I don't see the point of this story nor the seeking of damages of 20 million. He will make that tenfold in the next couple of years.

 

two words for yáll...Valley Girl. Nick Cage is possibly the best actor of our era and I don't see why he can't be in every movie. I mean, come one, didn't anyone see "The Rock" (destroys a 355s) or "Con Air". Brilliant.

In times like this, you find out unpleasant things about who has been bleeding you dry unbeknownst to you. In this case, I can sympathize with the guy. You can't say he doesn't work hard!

Almost forgot...Face Off!

 

Nobody is better than "The KIRK"!!!!

btw... what are your coordinates?

 

70 cubits by 30 cubits.

 

Of course, the coordinates merely assist in the calibration of the ship's sensors for, eh... communication purposes!

 

If I was him and reading this thread I would certainly be responding. It looks like most Ferrari owners hold Nick to a higher standard.

 

He posts here, but not on this thread.

Yet.

 

So, in a nutshell, your stance is that if someone is rich, and someone steals from them, it's OK?

How rich does someone have to be before it becomes OK to steal from them?

 

How rich?
Anyone richer than me

Seriously its no less a sin, its just easier for him to recover from such a loss.

 

Dun-duh-daaaa...

 

I appreciated him more when I heard he likes to do his own auto action scenes. I enjoyed The Rock, Gone in 60 seconds, and that date movie where he is a cop and splits a lottery ticket with a waitress. I think the guy has a lot more abilities than his tight emotions would show on his face. And, oh yeah, bummer his finances aren't going well, it's a shame we can't trust those that we would hope we can.

Nick, if you pop in here tell some stories of the cars you drove in action sequiences, the ones you destroyed and the ones that made you feel like a hero.

How great would it be to use that iron like he get's to. Of course it might be boring as can be on a movie set. I've watched a couple movies being made, and doing a scene over and over looks tedious.