 In flashback , Angier and Borden work as shills for " Milton the Magician , " ( Ricky Jay ) alongside John Cutter ( Michael Caine ) then Milton 's ingénieur , and Julia ( Piper Perabo ) , Milton 's assistant and Angier 's wife . Milton 's famous trick is the water tank trick , where Julia is bound in ropes and dropped in a water tank , from which she frees herself and escapes . Borden , with Julia 's consent , ties her hands with a more secure , yet difficult knot . Julia fails to slip the knot and drowns , infuriating Angier and fueling his deep @-@ seated grudge against Borden . 
