Nic Cage Not Being Sued for Fraud

12/26/2009 at 07:10 PM EST

Nic Cage Not Being Sued for Fraud
Nicolas Cage
John Spellman/Retna
Nic Cage isn't being sued for fraud and lawyers for a real estate company are going after him for much less than a previously reported $36.7 million, PEOPLE clarifies.

Cage, who says he's facing financial ruin after allegedly being duped by his former accountant, is being sued by Red Curb Investments for failure to pay back approximately $3 million in loans.

Red Curb, a small private lender, is also seeking more than $3 million each from his former accountant and a mortgage broker, accusing them of defrauding the real estate company by not disclosing Cage's true financial picture, including his enormous tax debt.

Marty Singer, Cage's lawyer, tells PEOPLE: "Any claims that Nic Cage engaged in fraud or wrongful conduct is absurd and ridiculous."

Your Reaction

Follow Us

On Newsstands Now

Robin Roberts: How Loved Saved Me
  • Robin Roberts: How Loved Saved Me
  • Emma and Andrew: All About Hollywood's Cutest Couple
  • Prince George! More Yummy Photos

Pick up your copy on newsstands

Click here for instant access to the Digital Magazine

Advertisement

From Our Partners

Watch It

Editors' Picks

From Our Partners



Sign up for our daily newsletter and other special offers.
    Choose your newsletters
Thank you for signing up! Your request may take up to one week to be processed.
    see all newsletters