« Click to Next Article »

Nicolas Cage's Money Problems Get Worse

Nicolas Cage Switches On Bath Christmas Lights
Nicolas Cage stands on the stage before turning on Bath's Christmas lights on November 26, 2009 in Bath, England. Nicholas Cage was invited to Bath, where he has a property nearby, to turn on the city's Christmas lights. (Getty Images)more pics »Is there no end to Nico Cage's financial woes? The actor is reportedly being sued for breach of contract in the latest installment of his money management saga. This time, the suit has to do with his leased two vintage Rolls Royce cars, which were acquired in 2007 on a 60-month agreement, at a cost of over $10,000 a month. Ouch!

Nic Cage needs a fuller piggy bank. (Getty) However, he reportedly couldn’t afford the repayments and returned both vehicles and now the leasing company, Premier Financial Services, are suing him over breach of contract for the money they lost by selling the car wholesale. The company wants $104,490.68 for one vehicle and $137,077.06 for the other.

Last October, the National Treasure actor, who has been forced to put several of his properties on the market after failing to pay millions of dollars of tax, filed a lawsuit in October claiming Samuel Levin, his former business manager led him "down a path of financial ruin".

Levin, who was branded "incompetent" by the actor over his financial advice, which Cage claims has led him towards financial ruin, then filed a cross complaint in Los Angeles Superior Court against the star, insisting he was already in deep debt when he hired him in 2001.

In the complaint Levin insisted Cage refused to listen to his advice, resulting in him having an unpaid tax bill. He said: "From the start of our Business Management Agreement he knew about his perilous financial situation and he knew he was behind on paying his taxes."

The business manager claimed he "warned" the actor he needed to earn a minimum of $30 million a year to support his lavish lifestyle and agreed a string of financial objectives which included selling "more than a dozen" of his cars and his $1.6 million comic book collection.
However, following a "string of hit films" Cage started spending again and by July 2008 he owned 15 homes, including two castles, four yachts, a Gulfstream jet, millions of dollars worth of jewelery and art and an island in the Bahamas.

See more pictures of Nic Cage here (click any picture):
  • Nicolas Cage in "Bad Lieutenant: Port Of Call New Orleans" Premiere - TIFF 2009
  • Nicolas Cage in "Bad Lieutenant: Port Of Call New Orleans" Premiere - TIFF 2009
  • Nicolas Cage in "Bad Lieutenant: Port Of Call New Orleans" Premiere - TIFF 2009
  • Nicolas Cage in "Bad Lieutenant: Port Of Call New Orleans" Premiere - TIFF 2009
  • Nicolas Cage in "Bad Lieutenant: Port Of Call New Orleans" Premiere - TIFF 2009
  • Nicolas Cage in "Bad Lieutenant: Port Of Call New Orleans" Premiere - TIFF 2009
  • Nicolas Cage in "Bad Lieutenant: Port Of Call New Orleans" Premiere - TIFF 2009
  • Nicolas Cage in "Bad Lieutenant: Port Of Call New Orleans" Premiere - TIFF 2009

 
View Nicolas Cage Pictures »
« PREV NEXT »
Leave a Comment!