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LOS ANGELES -- He's made millions during his career, and now Oscar-winning actor Nicolas Cage is reportedly broke.
Cage, 45, is suing his former business manager Samuel J. Levin for mismanagement of funds. Cage is seeking $20,000 in damages, according to court documents.
The actor, perhaps best known for his role in "Leaving Las Vegas," claims in the documents that Levin gave him bad avice, putting him on the path to ruin.
Legal documents have revealed some of Cage's purchases, which included two Bahimian islands, a Lamborghini owned by the Shah of Iran and $1 million in comic books.
The apparently cash-strapped actor is trying to sell several of his luxury properties he's accumulated around the world. Some have pricetags of more than $30 million.
Also in August, the IRS slapped a $6.2 million tax lien on Cage's two New Orleans properties, claiming the actor didn't pay income taxes in 2007.
Both estates are reportedly set to be sold at auction on Nov. 12.
Celebrity publicist Michael Levine told KTLA he sees fortunes crumble all the time.
"Super successful celebrities often have very active fantasy lives and they make mistakes because they lose their connection with reality," he said.
Cage is currently working on the upcoming movie "Ghost Rider 2."
Cage, 45, is suing his former business manager Samuel J. Levin for mismanagement of funds. Cage is seeking $20,000 in damages, according to court documents.
The actor, perhaps best known for his role in "Leaving Las Vegas," claims in the documents that Levin gave him bad avice, putting him on the path to ruin.
Legal documents have revealed some of Cage's purchases, which included two Bahimian islands, a Lamborghini owned by the Shah of Iran and $1 million in comic books.
The apparently cash-strapped actor is trying to sell several of his luxury properties he's accumulated around the world. Some have pricetags of more than $30 million.
Also in August, the IRS slapped a $6.2 million tax lien on Cage's two New Orleans properties, claiming the actor didn't pay income taxes in 2007.
Both estates are reportedly set to be sold at auction on Nov. 12.
Celebrity publicist Michael Levine told KTLA he sees fortunes crumble all the time.
"Super successful celebrities often have very active fantasy lives and they make mistakes because they lose their connection with reality," he said.
Cage is currently working on the upcoming movie "Ghost Rider 2."
