Big Baller Brand co-founder Alan Foster is under investigation by the FBI after Lonzo Ball and his family alleged that he embezzled over $2 million, according to Tania Ganguli of the Los Angeles Times.
Here’s more details on the ongoing investigation per Ganguli’s report:
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 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.
The allegation first surfaced on March 25 via Ramona Shelburne and Paul Lavigne of ESPN. Ball then reportedly filed suit on April 2. The suit alleged that Foster targeted the Ball family upon his release from prison, according to documents obtained by ESPN.
This story will be updated as more information becomes available.
