Actor Nicolas Cage is being sued by his former business manager, who claims lavish spending, not his advice, is to blame for the actor’s financial problems.
Samuel J. Levin filed a countersuit in Beverly Hills on November 12, less than a month after the National Treasure star filed a $20m lawsuit against Mr Levin for fraud and claimed he had led him toward financial ruin.
Mr Levin’s suit said he tried to warn Cage when he was hired in 2001 that Cage was outspending even his large Hollywood paycheques.
He is seeking a declaration that he acted properly, didn’t excessively charge Cage for his services, and is owed $129,000 for work he did after he was fired in 2008.
The filing states Mr Levin enacted a plan that resulted in Cage selling a dozen cars and a $1.6m comic book collection.
Marty Singer, Cage’s attorney, said the claims made in the countersuit were absurd.
He said it was a breach of privacy for Mr Levin to release details about Cage’s asset sales. In addition, Mr Levin has been paid $1.3m in the past 18 months, Mr Singer said.
Cage is facing tough financial times and has been forced to sell some of his property, according to his original court filing against Mr Levin.
The Internal Revenue Service has filed more than $6.6m in tax liens against the actor this year, records show.
Mr Levin claims he advised Cage years ago that he would need to earn $30m a year to maintain his lifestyle. The lawsuit states he warned Cage not to buy castles in England and Bavaria.
Referring to Cage by his birth surname of Coppola, Levin’s lawsuit states the actor in 2007 alone bought $33m in property, 22 cars and nearly 50 pieces of expensive jewellery, art and other exotic items.
“Coppola also spent huge sums taking his sizeable entourage on costly vacations and threw enormous, Gatsby-scale parties at his residences,” the lawsuit states, referring to the character in the F. Scott Fitzgerald novel.