An auction was held on Wednesday (April 7) to sell off three properties belonging to cash strapped actor Nicolas Cage.
Cage, who finds himself in deep financial distress, was forced to offer his California mansions (one in Bel Air and two in Malibu) to the auction gavel in a bid to pay off a massive IRS bill and other debts.
The auction started with a minimum bid of $10 million for each of the properties, unfortunately for Cage all three homes failed to attract buyers, and after the auction ownership of the properties were turned over to the bank.
Cage is currently in a legal fight with his former business manager Samuel Levin, who he has blamed for causing his money woes.
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