Cops: Cameron Douglas Dealing $18K of Crystal Meth

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The son of Academy Award winner Michael Douglas has been arrested - and not for the first time - but Cameron Douglas has really outdone his drugged-out self.

Police say that the younger Douglas, 30, was in the middle of a deal to sell an eye-popping pile of crystal meth before he was snared by federal authorities.

The sometime-actor / sometime-DJ was busted back on July 28 at the Gansevoort Hotel in the Meatpacking District by a DEA task force, police sources report.

He'd been staying at the hotel for some time in a room rented by his dad. When the authorities barged in, they found the place a mess and Cameron "very strung out."

An informant had told the investigators that Cameron Douglas was the middle man in a deal to move a half-pound of crystal meth from California to New York to sell.

The drugs were intercepted before they got to New York.

Crystal methamphetamine sells for approximately $80 a gram - meaning Douglas had allegedly dealt about $18,000 worth. Not a small-time sentence, we'd guess.

Michael Douglas was informed and was "furious," a source said. A spokesman for Michael has not return calls for comment. Nor has the U.S. Attorney's Office.

As of this report, Cameron Douglas is still being held in custody.

In 2007, when the dude was still a n'er-do-well and not a full-fledged drug dealer, he was arrested with another man after being pulled over in Santa Barbara, Calif., with a bottle of liquid cocaine and a syringe in the car.

In 1999, when he was working as a DJ at the Tunnel club in Chelsea, he was busted buying cocaine with a gal pal from a drug dealer being tailed by cops.

Aside from getting arrested on drug charges, Cameron Douglas is best known for starring with his father and grandfather in 2003's It Runs in the Family.