Lonzo Ball sues Big Baller Brand co-founder Alan Foster for fraud
Lonzo Ball has filed a lawsuit against Big Baller Brand co-founder Alan Foster for allegedly utilizing a “fraudulent scheme” to take money from the company, according to TMZ Sports.
Ball’s lawsuit comes hot on the heels after an ESPN report revealed that Ball was missing $1.5 million from his personal and business accounts.
Per the ESPN report, suspicions were raised last October when Ball’s financial adviser alleged that Lonzo’s personal taxes and Big Baller Brand’s taxes could not be completed on time due to the missing $1.5 million.
Following the report, Ball severed all ties with Foster immediately and began distancing himself from Big Baller Brand.
In a statement to ESPN, Ball’s father LaVar said at the time, “I've always believed in the best in people. Regretfully, I put my complete trust in Alan Foster to manage my son's business affairs. At the end of the day, family comes first, and I support Zo wholeheartedly. Together, we will make this right."
Per ESPN, Foster owned 16.3 percent of the company, while Lonzo owns 51 percent. LaVar owns 16.4 percent and Lonzo’s mother Tina Ball owns 16.3 percent.
Details of the lawsuit were not made available including how much Ball is suing Foster for.
Foster’s criminal past
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 was also required to pay $3.7 million in restitution.
Ball continues to distance himself from BBB
The lawsuit is one of many steps taken by Ball in distancing himself from Big Baller Brand.
Following ESPN’s report, Ball took to Instagram to hint at a union with Nike. The caption of his post reading, “Moving on to bigger and better #MyOwnMan.”
And following that, Ball covered up his Big Baller Brand tattoo on his right arm. The three B’s of Big Baller Brand were replaced with misshapen dice barring the numbers one, two and three, the numbers that he and his brother’s LaMelo and LiAngelo wear on the court.
While Ball has pushed himself away from his family brand, LaVar believes that it will continue on. Speaking to KLUC radio the elder Ball insisted, “The brand is good.”
Ball’s Lakers have been eliminated from the playoff chase, while Ball himself was shut down for the remainder of the season with a left ankle injury.
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