That’s what happens to Big Ballers
Los Angeles Lakers guard Lonzo Ball has severed ties with a co-founder of Big Baller Brand over concerns that the longtime family friend has a criminal past and also has not adequately accounted for the whereabouts of roughly $1.5 million from Ball’s personal and business accounts.
According to a report, Ball believes that Alan Foster, a friend of Lonzo’s father for almost a decade who owns 16.3 percent of Big Baller Brand, had “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.”
Ball’s financial adviser Hunble Lukanga emailed Lonzo about some financial oddities:
Lukanga attached two itemized reports to the email that he alleged showed unexplained cash withdrawals from Big Baller Brand and transactions between BBB and Foster’s business, Marathon Consulting Inc. “Over $1.5 million dollars has disappeared and he has wired over $474,000 to himself through Marathon Consulting (see attached report). So close to $2 million dollars has touched Alan’s hands but $1.5 million of it has disappeared in cash and can’t be tracked,” Lukanga wrote.
LaVar declined comment but issued a statement to ESPN calling the situation “devastating.”
“I’ve always believed in the best in people. Regretfully, I put my complete trust in Alan Foster to manage my son’s business affairs,” LaVar said. “At the end of the day, family comes first, and I support Zo wholeheartedly. Together, we will make this right.”
According to incorporation documents filed in Wyoming obtained by ESPN, Lonzo owns 51 percent of Big Baller Brand, and his father, 16.4 percent. Lonzo’s mother and Foster each own 16.3 percent. Though Lonzo said in a statement that he has severed all ties with Foster, it was unclear Friday how the business ties would be untangled.
Alan Foster allegedly stealing money from Lonzo Ball would be the least surprising Ball family news in a long time
— Andrew Joseph (@AndyJ0seph) March 22, 2019
When you’re a Big Baller Brand, you must expect these type of things to happen.
Want More From Sports Gossip?