Nicolas Cage Sues Ex-Manager for ‘Financial Ruin’

Accuses him of negligence and fraud.

Last Updated: October 16, 2009 @ 2:21 PM

Actor Nicolas Cage filed a $20 million lawsuit against his former business manager on Friday, accusing him of negligence and fraud that sent the "National Treasure" star "down a path toward financial ruin."

Cage claimed that his recently-fired business manager had failed to pay taxes when they were due and had placed him in speculative and risky real estate investments "resulting in (the actor) suffering catastrophic losses."

Read more at Reuters.