Cage faces another $36.7 million lawsuit
By IANSFriday, December 25, 2009
LONDON - First his partner sued him and now Hollywood star Nicolas Cage is facing another multi-million dollar lawsuit filed by a real estate company.
The 45-year-old, who says he is facing financial ruin after allegedly being duped by his former accountant, is being sued by Red Curb Investments claiming that the actor failed to repay more than $5 million in loans.
Lawyers for Red Curb Investments also allege the actor, his former accountant and a mortgage broker defrauded them by not disclosing Cage’s true financial picture, including his $6.3 million tax debt, reported people.com
“(Our client) was assured that Cage had substantial assets consisting of high-end residential property, yachts, airplanes, antiques, custom automobiles, jewellery, furs… to assure repayment of the (loan), (but) the values of Cage’s assets were grossly exaggerated, the lawsuit reads.
Cage’s lawyer Marty Singer said: Any claims that Cage engaged in fraud or wrongful conduct are absurd and ridiculous.
Red Curb is seeking at least $36.7 million for the original loan amounts, interest, damages, attorney fees and other costs.
Earlier this month, Christina Fulton, mother of his 18-year-old son, sued him for fraud and breach of contract for $13 million.
He’s also locked in a legal battle with his former accountant, who blames Cage’s financial collapse on the actor’s “compulsive, self-destructive spending”.
Cage also faces another lawsuit filed by a bank that claims he failed to repay a $2 million loan that was extended in August.
