Nicolas Cage is one of the biggest stars in Hollywood, so this news comes as a shock to many.  He has starred in some of the biggest movies of the decade but i guess the IRS doesn’t take that into consideration.  Two of his homes in New Orleans were auctioned off to cover his huge tab of over $6 Million.  The homes were purchased at a bargain by Regions Bank for $4.5 Million, since the homes were appraised at $6.8 Million.

Now Cage is claiming all this problems stem from dealings he had with Samuel J. Levin who was his business manager.  Cage actually filled a law suit against Levin, Cage claims  Levin paid himself millions of dollars while putting Cages money into risky investments.  Due to this on going issue,  Cage is now forced to  sell of  major  assets and investments at a significant loss. It seems this story is only going to keep heating up, so check back on here for more Nic Cage updates.

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