An Oscar-winning actor, Cage is known for his dramatic roles in films such as "Leaving Las Vegas" and "Adaptation" as well as action turns in "The Rock" and the "National Treasure" films, fell victim to indecent management.
Nicolas Cage sued his former business manager for $20 million on Friday, claiming bad advice and mismanagement led him toward financial ruin.
Cage filed the lawsuit against Samuel J. Levin and his firm.
"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.
Cage, 45, relied on Levin's statements and advice and couldn't have known about the financial trouble he was facing until after he hired new management, according to the lawsuit.
Public records show Levin has been a licensed certified public accountant in California for nearly 25 years and has no public record of disciplinary actions.
The Associated Press contributed to the report.
Representatives of the Israeli Defence Ministry responded to recent reports about the possible delivery of S-300 SAM systems from Russia to Syria. Israeli Defence Minister Avigdor Lieberman said that Israel would destroy those systems
Russia is to start supplying S-300 air defence systems to Syria in the near future. The shipments will be conducted free of charge