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Nic Cage Is Even Broker Than Lindsay Lohan

Wednesday, November 18, 2009 12:38 AM
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Nick Cage Is Broke
quick takeHe made $40 million dollars in the last year and spent it all. Sadly, not one dime went towards acting lessons.
Nicolas Cage is broke claims former manager in bitter lawsuit battle
Thebusiness manager accused by Nicolas Cage of sending him "towardfinancial ruin" has hit back by claiming the star was already millionsof dollars in debt when he hired him.
NationalTreasure star Cage is suing his former manager Samuel Levin for $20m torepair the alleged financial damage he caused by mismanaging hisfinancial affairs.
But Levinhas filed a countersuit, in which he claims Cage had "alreadysquandered tens of millions of dollars" and owed millions more inincome taxes, when he started working for him in 2001.
Levindetails Cage's alleged extravagant spending and says that he warned theactor he needed to earn $30m a year just to maintain his lavishlifestyle.
He alsoclaimed that in 2007 Cage spent $33m on three homes, bought 22 cars -including nine Rolls Royces - as well as expensive jewellery and 47pieces of art.
Levin saysCage "also spent huge sums taking his sizeable entourage on costlyvacations and threw enormous, Gatsby-scale parties at his residences".
He claims Cage owes him $128,872.98 in unpaid business management services.
In hislawsuit, filed last month, Cage claims that Levin was so reckless andincompetent with his money that he has now been forced to sell offmajor assets and investments, and is faced with massive taxliabilities.
According to Forbes magazine, Cage earned $40m between June 2008 and June 2009.

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