Lonzo Ball and his family recently had a falling out with longtime business manager Gregory Alan Foster. And it’s possible that Foster cost the Los Angeles Lakers guard and his family millions.
Tania Ganguli and Richard Winton of the Los Angeles Times reported that the matter is being investigated by the FBI.
“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 report said. “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.”
Foster was one of the co-founders of the famed Big Baller Brand. ESPN’s Ramona Shelburne and Paula Lavigne reported in March that the Ball Family (and Big Baller Brand) had severed ties with Foster.
Foster had previously taken part in a scheme that cost investors nearly $4 million. For his role in that scheme, he served time in federal prison. Per Ganguli and Winton, “Ball said he and his family had no idea” that Foster had done time.