Nicolas Cage is not being sued for fraud as was thought earlier. PEOPLE clarified Sunday that a real estate company is suing him for much less than the original $36.7 million that was reported.
Cage is being sued by Red Curb Investments, a small private lender, for neglecting to pay $3 million in loans. The company is also suing Cage’s accountant and mortgage broker for $3 million each for allegedly misleading the real estate company regarding Cage’s financial situation. The company was not informed of Cage’s tax debt.
Cage announced in October 2009 that he was facing financial ruin. He accused his accountant, Samuel Levin of mismanaging his assets. Cage currently owes $6.3 million in taxes. In addition, his wife, Christina Fulton, is currently suing him for $13 million.
We hope Cage makes a new movie soon! Maybe National Treasure 3?