Cage blames business manager for debts

LOS ANGELES, Nov. 1 (UPI) -- U.S. film star Nicolas Cage alleges he owes millions of dollars in back taxes because his business manager led him toward "financial ruin."

People.com said Cage, 45, alleges in a lawsuit filed in Los Angeles that his business manager Samuel J. Levin "lined his (own) pockets with several million dollars in business management fees while sending Cage down a path toward financial ruin."

The allegations by the "National Treasure" actor come as Cage is selling off his real estate holdings in an attempt to deal with $6.3 million in back taxes.

Cage is also the target of a breach of contract complaint filed by East West Bank, which alleges the Hollywood star has not paid off a $2 million loan.

Cage alleges in his lawsuit against Levin that "he is now forced to sell major assets and investments at a significant loss and is faced with huge tax liabilities because of Levin's incompetence, misrepresentations and recklessness."

People.com said the lawsuit will be the subject of a February 2010 court hearing.