Are you a legal professional? Visit our professional site

Nick Cage Legal Battles Continue

Article Placeholder Image
By Kamika Dunlap on January 08, 2010 12:20 PM

Although Actor Nicolas Cage is not being sued for $36.7 million for fraud by a real estate company, his legal battles continue.

He now faces a lawsuit for unpaid loans instead of being sued for fraud, as previously reported by People magazine.

Red Curb Investments is suing him for approximately $3 million, the amount of Cage's unpaid loans.

According to the Washington Post, the real estate firm is suing Cage for much less than the reported $36.7 million, which would have included the initial loan, interest and damages.

Red Curb is suing Cage's  former accountant and mortgage broker for not revealing the true state of Cage's dire finances, including massive tax debt.

The investment company is suing Cage and his accountant for $3 million each, claiming the two defrauded the company.

Cage's lawyer Marty Singer has told the media: "Any claims that Nic Cage engaged in fraud or wrongful conduct is absurd and ridiculous."

Earlier this month, Christina Fulton, the mother of Cage's 18-year-old son, sued Cage for fraud for $13 million. He's also locked in legal battles with his former accountant.

As previously reported, Cage is suing former business manager and accountant, Samuel Levin. According Cage's allegations, he is forced to sell major assets and is faced with a huge tax liability due to Levin's "incompetence, misrepresentations and recklessness."  Cage blames his ex-manager for "sending him down the path to financial ruin" and seeks $20 million in damages from Levin.

Levin however, filed a counter-suit claiming he is owed $129,000 for recent work.

The Oscar winner also is facing another lawsuit filed by a bank claiming that Cage didn't repay a $2 million loan.