Nicholas Cage who was found to owe $6 million in backtaxes from 2007 is speaking out about what happened.
“The first thing you think is, ‘This can’t be true. I want to crawl up and hide at the end of the world,’ he told Germany’s In Touch Magazine. “I have a new manager now, so I’m halfway there, and I will pay off all those debts, to the last cent. I have a responsibility for my sons and my wife. I have to get back on my feet.”
Cage says he entrusted his manager with his property decisions.
PEOPLE – Nicolas Cage’s financial and legal nightmare continues to grow.
Christina Fulton, mother of Cage’s eldest child Weston, 18, is suing the actor for fraud and breach of contract, alleging she’s been caught in the web of his financial mismanagement and is now more than $1.2 million in debt herself, Los Angeles court papers show.
Cage stated in an October lawsuit he faces financial ruin after allegedly being duped by a former accountant, Samuel Levin. The actor currently owes $6.3 million in back taxes, recently defaulted on a $2 million loan, and has begun a massive sell-off of homes, cars, yachts and other possessions to recoup his losses.
Fulton, 42, a former actress, says she was provided an L.A. home years ago by Cage in exchange for raising Weston, and believed the property was under her name. That is until September, when Cage allegedly served her with a 60-day notice to get out.
Fulton says that because of Cage and Levin’s negligence, she now owes the IRS more than $1 million, in addition to $250,000 in unpaid credit card debt. She says the credit card was supposed to be paid off regularly by Cage and that fraudulent charges were racked up by a staffer hired by the actor who didn’t undergo a sufficient background check.
All told, Fulton says damages to her exceed $13 million.
AP – ilm star Nicolas Cage has visited a Kenyan prison holding suspected Somali pirates awaiting trial to highlight the problem of piracy in the Indian Ocean.
Inmates danced for the movie star and shook his hand as he toured the Shimo La Tewa prison in the Kenyan coastal town of Mombasa. The prison has become a model for other jails in the country because of the reform work of its chief warden, Wanini Kireri.
Cage, a U.N. Goodwill Ambassador on Drugs and Crime, told The Associated Press Television News on Tuesday that he wanted to meet with some of the suspected Somali pirates, hear their stories and understand what is fueling piracy off the Somali coast.
“Then I’m in a position where I can actually make some sense and talk about it when I go back to the States where I go talk to different U.N. councils and discuss the matter,” Cage said.
Cage also gave out awards during his Tuesday visit to wardens in recognition of their outstanding work. He left Kenya Wednesday.
Somali pirates are currently holding around a dozen ships and more than 200 crew, and attacks have increased in recent weeks as seasonal rains subsided.
On Wednesday, pirates attacked the Maersk Alabama for the second time in seven months, though private guards on board the U.S.-flagged ship repelled the attack with gunfire and a high-decibel noise device.
AP- Nicolas Cage’s father, literature professor August Coppola, has died. He was 75.
Coppola is the brother of filmmaker Francis Ford Coppola, and he taught literature and served as dean of creative arts at San Francisco State University.Cage spokeswoman Annett Wolf said August Coppola died Tuesday after a heart attack.Besides Cage, Coppola is survived by sons Christopher and Marc and six grandchildren.
Nicolas Cage is being sued for going south on a big fat loan. East West Bank claims it extended Cage a $2 million line of credit in August 2007. The bank claims he agreed to pay $11,590 per month. The bank says he missed his payment in May 2009. He missed June as well, they claim.And July. And August. And September.The bank is now invoking its right to call the entire balance due, stat.- TMZ
Nicolas Cage reportedly hired a Voodoo Priestess to remove a curse on his new movie, after two car accidents in two days left crew members and bystanders injured. The crashes caused chaos on the New York City shoot for The Sorcerer’s Apprentice last month. First, a stuntman lost control of a Ferrari and hit two pedestrians on [Wait!Theres Tons More…]
A movie chase scene got too realistic early today when a car jumped a curb during a film shoot and smashed into the entrance of a Times Square restaurant, injuring two people, police and witnesses said. The action scene gone awry unfolded at the Sbarro at 47th Street and Seventh Avenue shortly before 1 a.m. [Wait!Theres Tons More…]
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