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Real Estate Company Suing Nicolas Cage For $36.7 Million

Written By Trading Forex News on Saturday, December 26, 2009 | 9:31 AM

Another day, another lawsuit for Nic Cage: Nicolas Cage has hit with $36.7 million lawsuit from a real estate company after failing to repay more than $5 million in loans.

Lawyers for Red Curb Investments have alleged that the City of Angels star, his former accountant and a mortgage broker defrauded them by not disclosing Cage’s bleak finances on an application.

“[Our client] was assured that Cage had substantial assets consisting of high-end residential property, yachts, airplanes, antiques, custom automobiles, jewelry, furs … to assure repayment of the [loan]. [But] the values of Cage’s assets were grossly exaggerated,” the suit reads.

Red Curb is seeking monetary compensation for the original loan amounts, interest, damages, attorney fees and other costs.

The 45-year-old screen is facing financial ruin after allegedly being duped by his former accountant. Earlier this month, Christina Fulton, the mother of Cage’s 18-year-old son, sued the actor for $13 million claiming fraud. Cage is also locked in a legal battle with his former accountant, who blames Cage’s financial collapse on the actor’s “compulsive, self-destructive spending.”

Finally, the star faces a lawsuit filed by a bank, which claims Nic failed to repay a $2 million loan that was extended in August.

“Any claims that Nic Cage engaged in fraud or wrongful conduct is absurd and ridiculous,”says Cage’s attorney Marty Singer.

by Castina

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