Good for Lonzo Ball taking control of his career and finances.
I feel bad for LaVar Ball because he trusted a scammer. It is his fault that he didn’t do due diligence on Alan Foster before letting him handle millions of dollars.
BSO sources tell me the amount that Foster allegedly stole from Lonzo and Big Baller Brand was over the $1.5 million that they just noticed missing.
The details of the lawsuit back up our sources.
According to the complaint, Foster made cash withdrawals totaling at least $1.5 million between May 2016 and September 2018, but refused repeated requests to explain why he withdrew the money or account for the missing funds.
Foster’s company, Marathon Consulting Inc., also allegedly received payments of $475,000 from Big Baller Brand between February 2017 and July 2018. The complaint says Foster initiated those payments and notated that they were for “expense reimbursements.”
Ball and Big Baller Brand are not just alleging that Foster took money. Their complaint also says Foster arranged for loans to be taken out under Ball’s name and that of a company, Family Matters LLC., affiliated with Ball, that included “exorbitant financing charges that were paid in whole or in part to Foster without Ball’s knowledge or consent.” As an example, the complaint cites eight loans arranged by Foster whose financing fees add up to nearly $950,000.
Foster met the Balls when Lonzo was in middle school and Foster’s son was in school with Lonzo. Foster developed a close relationship with LaVar Ball, who considered Foster his best friend.
Foster had his hand in everything and it is believed there is a lot more money missing.
Flip the pages for the details on the lawsuit that Lonzo is filing.