Nicholas CageOscar-winner Nicholas Cage has filed a $20 million lawsuit against his former business manager, Samuel Levin, reports CBC. Cage is accusing Levin of negligence and fraud.

“Instead of protecting and preserving Cage’s wealth during one of the greatest economic periods in the country’s history, Levin placed Cage in numerous highly speculative and risky real estate investments, resulting in Cage suffering catastrophic losses,” says the suit, filed in Los Angeles Friday.

Levin worked for Cage from 2001 to 2008 and collected millions of dollars in fees from the actor during that time period.

The court documents claim Cage was forced to sell assets and investments at a major loss. This comes shortly after the actor was charged $6.6 million in back income taxes and penalties by U.S. authorities.






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