Lonzo Ball sues Big Baller Brand co-founder Alan Foster for fraud

Lonzo Ball sues Big Baller Brand co-founder Alan Foster for fraud”

According to reports, Lonzo Ball has sued former business manager and BBB co-founder Alan Foster after being tied to an embezzled $1.5 million.

Per TMZ Sports, Ball is suing Foster for "orchestrating a "fraudulent scheme" directing money from the company and into personal accounts, among other allegations. Ball says Foster took out substantial loans that were supposed to be for the goal of acquiring or refinancing assets.

The lawsuit also says that when Ball asked Foster about what was going on, Foster threatened to spread false reports about the National Basketball Association star and his family.

Lonzo Ball's distancing from Big Baller Brand continues.

"It's unclear how much Lonzo is asking for ... but it's well in excess of $2 million".

"I've always believed in the best in people", LaVar Ball said at the time. "Regretfully, I put my complete trust in Alan Foster to manage my son's business affairs", LaVar told ESPN.

In 2002, Foster was sentenced to seven years in prison after pleading guilty to one count of mail fraud and two counts of money laundering as a result of a scheme that defrauded 70 investors of $4 million, according to records obtained by ESPN in the report. "Foster used these entities, some of which appear to be nothing more than shell entities, to directly and indirectly, funnel substantial amounts of Ball family money to himself". "Together, we will make this right".

Foster filed the paperwork to create BBB by changing the name of an existing company, NeXT Catch LLC, and assigning himself a role of managing member, with a provision that states that "title to assets to be held in the company's name or the name of any nominee the manager may designate". Ball owns 51, while LaVar and Lonzo's mother Tina own 16.4 and 16.3, respectively.

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