LaVar Ball Accused Of Embezzling $2.5 Million From Big Baller Brand: Report
Earlier this year, Big Baller Brand was placed at the center of a police investigation into the company's co-founder, Alan Foster. It was alleged that Foster had been secretly siphoning funds from the company as well as stealing upwards of $1.5 million from Lonzo Ball's personal accounts. At the time, Lonzo told 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." Now, Foster has come forward with a few accusations of his own, and they take aim at Lonzo's father LaVar Ball.
Following the news that Foster allegedly stole over a million dollars, the Ball patriarch filed a lawsuit against his former partner. However, The Blast reports that Foster has countersued LaVar for concealment and breach of contract. According to the documents obtained by the outlet, Foster claims that LaVar embezzled over $2.5 million from his family's companies for personal gain.
"In early 2016, in furtherance of LaVar’s intense desire to share in, or rise above, the glory and spotlight of his sons, LaVar approached Alan and asked for his business guidance on how to monopolize and gain fortune and fame from the names and likenesses of his three sons,” the lawsuit reportedly states. It was then that Foster claims he and LaVar conspired to capitalize off of the family's name "in order to create basketball and entertainment-related businesses. LaVar loved Alan’s idea and wanted to make sure that he was the biggest star in the family, notwithstanding the fact that he was broke, had no savings, poor credit and zero business acumen."
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Back in April, Lonzo filed a lawsuit against Foster for scheming to steal his money. He's seeking in excess of $2 million. LaVar has yet to respond to these recent accusations.