Alan Foster has a lot more trouble coming his way.
The Big Baller Brand co-founder is under investigation by the FBI after Lonzo Ball and his family accused him of embezzling over $2 million, according to Tania Ganguli of the Los Angeles Times.
“Authorities say the investigation is focused on allegations included in a lawsuit filed in Los Angeles County Superior Court this month by Lonzo Ball and Big Baller Brand. The suit alleges Foster took more than $1.5 million out of the company’s bank accounts and accepted “substantial undisclosed referral fees” from at least eight loans he arranged on behalf of the company.”
Federal agents are at least two months into the investigation and the Ball family is said to be cooperating with authorities.
Foster’s fingerprints are on just about every major decision that includes Lonzo signing with Big Baller Brand out of college, LaMelo’s enrollment at the Spire Institute.
Lonzo soured on Foster, telling ESPN that Foster “used his access to my business and personal finances to enrich himself. As a result, I have decided to sever all ties with Alan, effective immediately.”
The family was seemingly unaware of Foster’s past as he was convicted in 2002 of running a fraudulent stock scheme and would serve more than five years in prison.
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Foster reportedly reportedly owns 16.3 percent of BBB.
