Bank Sues Cage For $2 Million - Report
By WENNFriday, October 2, 2009
NICOLAS CAGE is in more financial trouble - a bank is suing him for breach of contract.
The actor is facing a $2 million (GBP1.3 million) lawsuit for allegedly breaching contract on an agreed monthly sum to East West Bank.
The bank officials claim they extended Cage a line of credit in August 2007 and he agreed to pay $11,590 (GBP7,726) per month until the debt was paid.
But in documents obtained by TMZ.com, the bank bosses allege Cage missed payment for May, June, July and September (09).
East West financiers are now demanding the return of the entire sum, plus costs.
It’s another financial blow for the National Treasure star - Internal Revenue Service (IRS) officials reportedly filed tax lien documents against Cage this summer (09), alleging the star failed to pay $6,257,005 (GBP4,171,340) to cover his income tax in 2007.
