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Thursday, September 2, 2010

Nicolas Cage Settles Lawsuit With Accountant

Nicolas Cage has settled a lawsuit with the accountant he accused of sending him “down a path of financial ruin.” Cage filed suit against Samuel Levin in October 2009, alleging the business manager misled him and overcharged for his services. The accusations stemmed from a $6.26 million tax lien the IRS slapped on the actor, alleging he failed to pay income tax on wages dating back to 2007. Cage also faced other claims of unpaid taxes related to his earnings between 2002 and 2004 and he was accused of defaulting on a $2 million loan last year. Levin filed a countersuit, claiming Cage squandered his cash on homes and luxury cars and had only himself to blame. New court documents show the pair reached a settlement on Monday. Terms of the deal were not released.

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