Nicolas Cage is suing his former business manager for $20 million for “Financial Ruin”. Cage claims that bad advice and mismanagement given by Samuel J. Levin and his firm led him toward financial ruin.

Cage, 45 pictured with his young wife, Alice Kim on the red carpet

As reports by Huffington news:

“Instead of protecting and preserving Cage’s wealth during one of the greatest economic periods in the country’s history, Levin placed Cage in numerous highly speculative and risky real estate investments, resulting in Cage suffering catastrophic losses,” the lawsuit states. Levin served as Cage’s business manager from 2001 to 2008 and collected millions of dollars in management fees, court documents state.

Levin has been a licensed certified public accountant in California for nearly 25 years.

photo: Fame