photo credit: Kathy Hutchins // Shutterstock
LA Laker Lonzo Ball recently got his Big Baller Brand, “BBB”, tattoo covered up, which let us know something may be going on behind the scenes.
It is now being reported that Lonzo has filed a lawsuit against BBB co-founder and brand manager Alan Foster, suing for $2 million in damages. According to Lonzo, about $1.5 million was unaccounted for in his financial statements and her believes Foster is the reason why. In the paperwork, Lonzo claims Foster “conspired to embezzle millions of dollars and then divert those funds for his personal use, including to acquire assets in Ethiopia.”
In addition, Lonzo claims Foster arranged for substantial loans to be taken out in his name for his benefit. Instead, the loans were obtained by “non-traditional lenders” who reportedly charged Lonzo large financing charges that were paid to Foster without his knowledge.
Foster was convicted in 2002 of defrauding more than 70 people of nearly $4 million, ESPN reported last month. He was forced to pay back most of that money and was sentenced to seven years in prison. Foster served five years but violated the terms of his probation and spent another five months behind bars in 2009, the report said.
Foster, a longtime friend of Ball’s father LaVar, co-founded Big Baller Brand in 2016.
Source: NBA