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Nicolas CageNow we know the recession is bad. Oscar-winning actor Nicolas Cage is reportedly broke and buried in debt and forced to sell properties he owns all over the world - including a castle in Somerset.

Find out more... Nicolas CageNow we know the recession is bad. Oscar-winning actor Nicolas Cage is reportedly broke and buried in debt and forced to sell properties he owns all over the world - including a castle in Somerset.

Apparently, the £10 million-a-film actor - whose movie hits include Leaving Las Vegas, Con Air and the National Treasure films - faces claims for millions of dollars in unpaid taxes and is said to be suing his former business manager who he claims put him on the path to financial ruin.

The castle in question - Midford Castle in Somerset - is a Grade 1 listed property sitting in 35 acres of parkland which Cage reportedly bought two years ago for the princely sum of £5 million. Now a potential buyer is understood to have offered a figure closer to £3.5 million.

Apparently, Cage was keen to live in the area because of its proximity to the spiritual-mecca that is Glastonbury and the mystical ley-lines in that area. But now with a tax lien placed on him by the U.S. authorities he's forced to sell up there as well as other homes in California, Las Vegas and New Orleans.

The real truth is that Nicolas Cage is probably having some financial difficulties, but he's most likely not broke. According to Forbes magazine, Cage's net worth was last reported to be around $38 million - earning about $40 million in 2008 and 2009. Let's just hope he gets back into the castle buying business soon.