Wendy Mitchell
October 16, 2009 AT 12:00 PM EDT

Nicolas Cage has sued his former business manager for $20 million, according to the AP. Cage filed the suit today in Los Angeles against Samuel J. Levin and his firm, managed Cage’s business affairs from 2001-2008. “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 stated.

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