Red Curb bosses suing Cage for $3 million
- Photo: Charles Sykes/AP1 of 10
- Photo: Carlo Allegri/AP2 of 10
- Photo: John Spellman/Wonderwall3 of 10
- Photo: Lee Jin-man/AP4 of 10
- Photo: George Pimentel/WireImage.com5 of 10
- Photo: RD / Dziekan/Retna Ltd.6 of 10
- Photo: Luca Bruno/AP7 of 10
- Photo: Theodore Wood/Retna Ltd.8 of 10
- Photo: Jemal Countess/WireImage.com9 of 10
More Celeb News
- MTV's 'Teen Wolf' Star Dylan O'Brien Eyed for DreamWorks&apoMSNEntertainment 5/20/2013 4:48:07 PM
- Review: Spirited, sexy version of 'Master Builder'MSNEntertainment 5/20/2013 4:42:37 PM
- Lease to Broadway's biggest theater soldMSNEntertainment 5/20/2013 4:31:38 PM
- Blossoming VOD Service Viewster Adds BBC's 'Skins,' Starz and Shine ProgrMSNEntertainment 5/20/2013 4:26:11 PM
- Ray Manzarek Death: 5 Must-See Performances (Video)MSNEntertainment 5/20/2013 4:23:37 PM
- MTV's 'Teen Wolf' Star Dylan O'Brien Eyed for DreamWorks&apo
An investment company is not suing Nicolas Cage for fraud and a reported $36.7 million, People magazine has clarified.
Christmas reports suggested the movie star was facing another huge financial battle with Red Curb Investments, but it appears the initial details were greatly exaggerated.
RELATED: See more pics of Nicolas Cage
The private lender is actually suing the actor for failure to pay back almost $3 million in loans from 2007.
RELATED: Check out Nicolas Cage's bio
Red Curb is additionally suing Cage's former accountant, Samuel Levin, for $3 million claiming he defrauded the company by neglecting to disclose the Oscar winner's financial status.
"[Red Curb] was assured that Cage had substantial assets consisting of high-end residential property, yachts, airplanes, antiques, custom automobiles, jewelry, furs, and other valuable assets sufficient to assure repayment of the... loan," according to the lawsuit, filed in Los Angeles Superior Court on Dec. 18 and obtained by Access Hollywood.
"The representations made concerning Cage's financial condition were false and were made with the intent to deceive [Red Curb] about Cage's true financial condition. By the summer of 2007, Defendants [sic] were aware that Cage was hopelessly in debt, yet continued to live in a lavish manner."
Red Curb is suing the other defendants, including a mortgage broker, a financial group, and a real estate trust, for a minimum of $25 million, according to the documents.
Cage faces huge financial problems after he was slapped with a tax lien in October after reportedly failing to pay income tax on earnings dating back to 2007. He is also facing other claims of unpaid tax relating to earnings from 2002 to 2004.
- Who Am I?Check out how Vin Diesel, Paul Walker and more stars of "Fast & Furious 6" looked when they were in high school.Watch Video »
- LovebirdsFind out what Jessica Alba and Cash Warren tweeted to each other on their fifth wedding anniversary on today's Celebs Gone Social ...Watch Video »
- Worst LooksCheck out some of Rihanna's worst wardrobe choices on 7 Wonders, hosted by Tim Kash.Watch Video »
- What's Sexy?Heidi Klum hangs with two comedy legends and shares what she finds most sexy in a man on today's Celebs Gone Social ...Watch Video »
- Sexy SecretsVictoria's Secret model Adriana Lima talks about the What's Sexy list, her model friends and more with Wonderwall.Watch Video »
- American TravelsGet the Prince's travel details on Replay hosted by Wonderwall's Kirby Kristen.Watch Video »
- Birthday GirlTori Spelling turns 40, plus more celeb stories on 7 Wonders, hosted by Tim Kash.Watch Video »
- Fashion OffendersFlorence Welch, Zoe Saldana, and Ali Larter all get an F on this week's Fashion OffendersWatch Video »
- Bikini BurnsFrom Kim Kardashian to Jessica Alba, see the worst celeb sunburns.Watch Video »
- Double TroubleFrom the Olsens to the Mowrys, see some of Hollywood's most famous twins.Watch Video »
- Roasted?Lindsay Lohan refuses to be roasted, plus more celeb stories on 7 Wonders, hosted by Tim Kash.Watch Video »
- Beach WorkoutsFrom Julianne Hough to Alessandra Ambrosio, see celebs who get their fitness on in the sand.Watch Video »
- Miley's MusicMiley Cyrus mixes music and fashion while ignoring her relationship status, on today's Celebs Gone Social.Watch Video »
- Royal AdviceSnooki gives Prince Harry some advice, plus more celeb stories on 7 Wonders, hosted by Tim Kash.Watch Video »
- Country CutiesCheck out the hottest couples in country music.Watch Video »
- Queen's FeastBeyonce had a major feast in Dublin, plus more celeb stories on 7 Wonders, hosted by Tim Kash.Watch Video »
- Bump DebutSelena Gomez breaks some pregnancy news on Twitter on today's Celebs Gone Social.Watch Video »
- Crazy QuotesCheck out some of Gwyneth Paltrow's craziest quotes.Watch Video »
- Beers With BieberJustin Bieber shares photos of his beer-drinking safari on social media on today's Celebs Gone Social.Watch Video »
- Missing Miley?Get the scoop on the newest breakup rumors on Replay hosted by Wonderwall's Kirby Kristen.Watch Video »
- Visiting U.S.Prince Harry is visiting the United States again, plus more celeb stories on 7 Wonders, hosted by Tim Kash.Watch Video »
From Videos of Wonderwall
From MSN Entertainment
From Crowd Ignite