Nicolas Cage Loses His Last Castle
Nicolas Cage may come from a long line of celebrities, but his famous family tree can’t keep him out of his debt. The Detroit News reports Cage owes $6.2 million in unpaid income taxes. Now those tax problems that were first reported a few months ago are catching up with Nicolas Cage. Along with the $6 million plus in unpaid taxes, Cage is also being sued over a $2 million credit deal go wrong. Cage defaulted on the $2 million bank loan which is putting everything to ahead this moment. So, now he had to sell his English castle.
The Daily Mail report:
He reportedly paid £5 million for the pile, which is built in the shape of the ace of clubs, two years ago. A potential buyer is understood to have offered a figure close to the guide price of £3.5 million.
“The castle has just come on the market – they have stopped all work on it and instead want to sell as soon as possible,” reveals a source close to the sale of the Grade I-listed property, which sits in 35 acres of parkland and 12 acres of woodland. “They have already accepted an offer, even though it is below the guide price. Both buyer and seller want to push things through as quickly as possible.”
The funny thing is he recently sold a castle in Germany. LOL… Yup, the dude had two castles. Seriously, how does Nicolas Cage do it? A few months ago, reportedly he had to offload his Bavarian castle due to the “difficult economic situation.” Yep, hard times when you earn around $20m a movie. Despite getting into the English country life (and even looking at local schools for his son), the actor is said to have had a tax lien placed on him by L.A. authorities and is having to offload much of his property portfolio including his last castle. Cage owns a 40 acre island in the Bahamas, and homes in Rhode Island, Lousiana, Nevada, and California.
Nicolas Cage is suing his former business manager for $20 million for “Financial Ruin.” Cage claims that bad advice and mismanagement given by Samuel J. Levin and his firm led him toward financial ruin. I wonder who’s idea was it to build a English castle, for some reason I think that bit of bad advice didn’t come from the business manager but rather from Cage himself. Levin has been a licensed certified public accountant in California for nearly 25 years. The lawsuit seems to alleged that Cage had no idea that he was overextended and that it is all his accountant’s fault. Here are a few shots of Cage, 45 year-old, pictured with his most recent and current young wife, Alice Kim on the red carpet. Then a few shot of what was his castle in England.
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