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Nicolas Cage faces $36.7 million lawsuit

By Ken Lee, PEOPLE.com
Nicolas Cage has been hit with several lawsuits, and is firing back against his old accountant.
Nicolas Cage has been hit with several lawsuits, and is firing back against his old accountant.
STORY HIGHLIGHTS
  • Real estate company suing Nicolas Cage for $36.7 million
  • Cage says he was duped by his former accountant
  • Actor also being sued by accountant, bank, mother of his son
RELATED TOPICS
  • Nicolas Cage
  • Movies

(PEOPLE.com) -- Here's something Nicolas Cage didn't want for Christmas: Another multimillion-dollar lawsuit.

Cage, 45, who says he's facing financial ruin after allegedly being duped by his former accountant, is being sued by a real estate company who says he failed to repay more than $5 million in loans.

Lawyers for Red Curb Investments also allege the actor, his former accountant and a mortgage broker defrauded them by not disclosing Cage's true financial picture, including his $6.3 million tax debt.

"[Our client] was assured that Cage had substantial assets consisting of high-end residential property, yachts, airplanes, antiques, custom automobiles, jewelry, furs ... to assure repayment of the [loan]," the lawsuit reads. "[But] the values of Cage's assets were grossly exaggerated."

Marty Singer, Cage's lawyer, tells PEOPLE: "Any claims that Nic Cage engaged in fraud or wrongful conduct is absurd and ridiculous."

All told, Red Curb is seeking at least $36.7 million for the original loan amounts, interest, damages, attorney fees and other costs.

Earlier this month, Christina Fulton, the mother of Cage's 18-year-old son, sued Cage for fraud for $13 million. He's also locked in a legal battle with his former accountant, who blames Cage's financial collapse on the actor's "compulsive, self-destructive spending."

Cage also faces another lawsuit filed by a bank which claims the actor failed to repay a $2 million loan that was extended this past August.

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