Big Baller Brand and Lonzo Ball are suing Gregory Alan Foster in hopes of recovering more than $2 million in damages, plus interest and further punitive damages.
Big Baller Brand and Lonzo Ball are suing Gregory Alan Foster, a co-founder of the Lakers guard’s shoe and clothing line, alleging fraud and breach of fiduciary duties, in hopes of recovering more than $2 million in damages.
The complaint, which was filed Tuesday to the Los Angeles County Superior Court, alleges that Foster conspired to take millions of dollars and used those funds to buy property in Ethiopia. It adds that Foster mishandled tax filings and failed to distribute profits from Big Baller Brand to Ball. When confronted with these accusations, Foster threatened “to publicly disseminate false and misleading information” about the family, the lawsuit says.
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.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lonzo Ball has severed ties with his family's controversial Big Baller Brand and a friend of LaVar Ball is at the center of the riftLonzo Ball's relationship with the Big Baller Brand is over.
Read more »
Does Lonzo Ball new tattoo mean he will sign for Nike?The Lakers guard hinted at cutting ties with Big Baller Brand over the weekend.
Read more »
Australia to confront past as ball-tampering bans expireSteve Smith and David Warner may wake with some relief on Thursday as they greet...
Read more »
Shell hits climate ball back into investors’ courtThe $260 bln oil major is tying lobbying to its emissions-reduction agenda, augmenting its status as the industry’s most progressive on global warming. It’s a low bar, though. Shell’s modest concession should motivate shareholders to keep holding big polluters’ feet to the fire.
Read more »
Preet Bharara: Mueller Aimed To 'Punt' To Congress, Barr Snagged Ball To Spin For TrumpPreet Bharara said he believes that Mueller intended to “punt” a decision on obstruction of justice charges against Trump to Congress. Instead, Barr “came off the sidelines, caught the ball, and ran it into the end zone for a touchdown for Trump'
Read more »
Husband of woman killed by foul ball tells Dodgers he wants more safety nets, not moment of silenceLinda Goldbloom died after being struck by a foul ball at Dodger Stadium last season.
Read more »
Opinion | What in the world is happening with Brexit?Opinion | James Ball: The latest Brexit debacle is embarrassing for all Britons except, apparently, our leaders. - NBCNewsTHINK
Read more »