Nicolas Cage Not Sued for Fraud, Just $3 Million

After initial reports proved false, the Knowing star is the target of a much smaller million-dollar suit by an investment company

UPDATE: Red Curb investments is not suing Nicolas Cage for fraud and the previously reported $36.7 million. Rather, the private lender is suing the actor for failure to pay back nearly $3 million in loans.

Red Curb is additionally suing both Cage's mortage broker and former accountant for $3 million each, claiming the two defrauded the company by neglecting to disclose the Oscar winner's financial status.

Says Cage lawyer Marty Singer: "Any claims that Nic Cage engaged in fraud or wrongful conduct is absurd and ridiculous."

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Another day, another lawsuit for Nicolas Cage. 

Only a few weeks after his 18-year-old son's mother slapped him with a $13 million lawsuit, Cage is facing yet another multimillion-dollar court case. 

So who's suing the Oscar winner this time? 

Red Curb investments, a real estate company who claims the 45-year-old actor failed to repay over $5 million in loans and come clean about an alleged $6.3 million tax debt he had already incurred. 

The company is seeking damages for attorneys' fees, damages, the original loan amounts and interest, among other things, for the alleged loan stiff.

According to lawsuit documents, Red Curb claims the company was assured that Cage owned pricey assets, such as yachts, airplanes and residential property, that would guarantee repayment of the loan. When it came time to pay up, however, Red Curb claims it found the value of those assets to be "grossly exaggerated." 

Cage's attorney is calling the company's bluff, telling the mag, "Any claims that Nic Cage engaged in fraud or wrongful conduct is absurd and ridiculous." 

But even the lawsuit via baby mama wasn't the first of Cage's legal woes this year.

The Knowing star is in the midst of a bitter legal battle with his former accountant and is facing another lawsuit filed by a bank claiming that Cage didn't repay a $2 million loan. 

Where's all that national treasure when you need it?

(Originally published Dec. 24, 2009, at 3 p.m. PT)