Nicolas Cage’s underestimated money problems are now coming to light in their full glory. Nicolas Cage blamed his financial advisor, Samuel Levin for his losses. But Samuel claims that by the time he was hired in 2001 "Coppola [Cage] had already squandered tens of millions." Nicolas owed millions in taxes "with no funds available to pay them."
Nicolas bought three homes in 2007 totaling thirty-three million dollars and twenty two cars, twelve pieces of jewelry and forty-seven pieces of art.
Nicolas Cage spent his leisure time doing some shopping for ‘high ticket purchases’ including a jet, yachts and fifteen homes.
According to Samuel Nicolas Cage was also fond of spending “huge sums taking his sizable entourage on costly vacations and threw enormous, Gatsby-scale parties at his residences."
"The pinnacle of [Cage’s] spending spree came with his Quixotic acquisitions of Midford Castle in England and Schloss Neidstein Castle in Bavaria." Samuel Levin said that he told Nicolas again and again that the castles would need too much money for restoration.
Levin claims Cage owes him $128,872.98 in unpaid business management services.
Marty Singer, Nicolas’s lawyer said against this countersuit that "Levin’s cross complaint is absurd. He was paid more than $1.3 million this last year-and-a-half. It’s ironic he’s making his claim for fees when he caused Nic to be in these financial problems while he was paid millions of dollars over the past several years to act as Nic’s financial advisor."