Thaindian News

Apr 9 (THAINDIAN NEWS) The Bel-Air Tudor estate belonging to Nicolas Cage went up for foreclosure auction this week. The bids were set to start off very low, 10.4 million dollars, which was quite a bit down from the 35 million dollars that Nicolas Cage had asked for when he first put the home on the market. The house did not receive one bid, however and was re-taken by the lender.

Nicolas Cage announced last year that he was broke and decided to sue his financial adviser. In a 20 million dollars lawsuit against his former business manager, Samuel J Levin, Cage says that Levin did not handle his money well at all, and went so faqr as not paying Cage’s taxes! He owes over 6 million dollars in back taxes and has been accused of tax evasion. A video released on YouTube (showing a clip from one of his movies) shows what Nicolas Cage may have said to his financial adviser, but most likely it was no where near this mild. Nicolas Cage was also sued by his ex last year.

The huge house was not at all a huge hit among the bidders at the foreclosure auction. According to real estate agent Brett Parsons, there may have been several reason why. “The design was ‘frat house bordello,’ ” Parsons said. “There must have been 300 comic book covers elaborately framed and hanging on the walls.”

Cage who is an Oscar winner, lost two other homes to foreclosure in November, but both of those houses did mange to sell. One of them went for 2.3 million dollars and the other went for 2.2 million dollars. Although he blames mismanagement of his funds on his former business manager, many are saying it was the lavish spending by Cage that caused his woes. Cage has bought more than a dozen houses, two islands, dinosaur skulls, shrunken heads and at least 50 cars. “[He] spent money like it was water,” according to “The Daily Beast”.