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Source: BANG Showbiz -
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Nicolas Cage may not be having a very merry Christmas: he is facing another huge lawsuit according to People.com.
The online magazine reports that the actor, who says he is battling financial strife due to mis-management by his former accountant, is being sued by a real estate company who say he defaulted on a $8 million loan.
People.com says the company's lawyers allege that Cage, his former accountant and a mortgage broker defrauded them by not disclosing Cage's true financial situation including his debts.
The lawsuit states: "[Our client] was assured that Cage had substantial assets consisting of high-end residential property, yachts, airplanes, antiques, custom automobiles, jewellery, furs...{but] the values of Cage's assets were grossly exaggerated" .
Cage's lawyer, tells People.com that "Any claims that Nic Cage engaged in fraud or wrongful conduct is absurd and ridiculous."
The lawsuit is seeking nearly $50 million for the original loan amounts, interest, damages, legal fees and other costs.
In November the cash-strapped star was forced to sell two properties in New Orleans and he is also being sued by his ex-wife Christina Fulton , the mother of Cage's 18-year-old son, for several millions due to alleged fraud.
The National Treasure actor faces a legal battle with his former business manager who blames Cage's poor financial situation on the actor's own reckless spending.
Compounding his woes, Cage also faces another lawsuit from a bank which claims he failed to repay a $3 million loan.
