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Los Angeles, California (CNN) -- Nicolas Cage brought about his own financial ruin with a spending spree that included two castles, 15 palatial homes, a flotilla of yachts and a squadron of Rolls Royces, his former business manager said.
Samuel Levin, responding to a lawsuit Cage filed against him, said he warned the Oscar-winning actor that he could face bankruptcy unless he scaled back his lavish lifestyle.
"Instead of listening to Levin, cross-defendant Coppola spent most of his free time shopping for high ticket purchases, and wound up with 15 personal residences, most of which were bought against Levin's advice," Levin's complaint said. "Likewise, Levin advised Coppola against buying a Gulfstream jet, against buying and owning a flotilla of yachts, against buying and owning a squadron of Rolls Royces, against buying millions of dollars in jewelry and art."
Cage's four yachts included one each for the Caribbean, the Mediterranean, <strong>Newport Beach</strong>, California, and Rhode Island, Levin said.
In 2007 alone, Cage's "shopping spree entailed the purchase of three additional residences at a total cost of more than $33 million; the purchase of 22 automobiles (including 9 Rolls Royces); 12 purchases of expensive jewelry; and 47 purchases of artwork and exotic items," Levin's filing said.
<a href="http://www.cnn.com/2009/SHOWBIZ/11/17/nicolas.cage.lawsuit/index.html">http://www.cnn.com/2009/SHOWBIZ/11/17/nicolas.cage.lawsuit/index.html</a>
Samuel Levin, responding to a lawsuit Cage filed against him, said he warned the Oscar-winning actor that he could face bankruptcy unless he scaled back his lavish lifestyle.
"Instead of listening to Levin, cross-defendant Coppola spent most of his free time shopping for high ticket purchases, and wound up with 15 personal residences, most of which were bought against Levin's advice," Levin's complaint said. "Likewise, Levin advised Coppola against buying a Gulfstream jet, against buying and owning a flotilla of yachts, against buying and owning a squadron of Rolls Royces, against buying millions of dollars in jewelry and art."
Cage's four yachts included one each for the Caribbean, the Mediterranean, <strong>Newport Beach</strong>, California, and Rhode Island, Levin said.
In 2007 alone, Cage's "shopping spree entailed the purchase of three additional residences at a total cost of more than $33 million; the purchase of 22 automobiles (including 9 Rolls Royces); 12 purchases of expensive jewelry; and 47 purchases of artwork and exotic items," Levin's filing said.
<a href="http://www.cnn.com/2009/SHOWBIZ/11/17/nicolas.cage.lawsuit/index.html">http://www.cnn.com/2009/SHOWBIZ/11/17/nicolas.cage.lawsuit/index.html</a>
