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. An attempt to reach Foster on his cellphone Tuesday went straight to voicemail. Ball was with the Lakers in Oklahoma City but was not available to reporters. 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. Advertisement 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. Although Foster was the registering agent for Big Baller Brand and gave himself 16.33% of the company, the lawsuit says Ball, who owns 51% of the company, removed him as a manager of BBB LLC. In a statement two weeks ago, Ball said he recently learned Foster was a convicted felon. The complaint filed by his lawyers stresses that Foster hid his criminal past from Ball and presented himself as an experienced business manager who could help him maximize his profits. According to court records examined by The Times, Foster was convicted in 2002 of defrauding more than 70 people of nearly $4 million. He was forced to pay back most of that money and sentenced to seven years in prison. Foster served five years but violated the terms of his probation and went back to prison for five months in 2009. He worked with a partner named Steven Clark Woods, whom he later introduced to the Ball family. Woods was entrusted to house-sit for the family. Sign up for our Lakers newsletter » 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. Advertisement Ball was first informed of Foster’s activity by his financial advisor, Humble Lukanga. Ball said he empowered Lukanga, his agent Harrison Gaines and his manager Darren Moore to take a more active role in his career. tania.ganguli@latimes.com Follow Tania Ganguli on Twitter @taniaganguli<doc-sep>UPDATE (04/03/19): After discovering over $1.5 million USD missing from his personal accounts last month, Lakers star Lonzo Ball has filed a lawsuit against Big Baller Brand co-founder and manager Alan Foster, reports ESPN. According to the report, the lawsuit was filed on Tuesday night against Foster who Ball believes has been siphoning money from his “business and personal finances to enrich himself.” In the documents obtained by the sports publication, Ball went on to accuse Foster for embarking “on his plan to target Ball and his family” and “fleecing them of millions of dollars” by “creating a variety of corporate entities in which he gave himself ownership interests and managerial control.” Ball also claims Foster steered him away from signing with major labels stating “it would be in his best financial interest.” This ultimately caused Ball to lose out on some large endorsement deals. Foster, who is known to have a criminal past, was sentenced to more than seven years in prison back in 2002 for money laundering. Ball is seeking for over $2 million USD plus interest in damages. Keep it locked here for more details as the story unfolds. For more sports-related news, Russell Westbrook dedicated his historic 20-20-20 performance to Nipsey Hussle. Original Story (03/23/19): Trouble seems to be brewing between Los Angeles Lakers star Lonzo Ball and Big Baller Brand co-founder Alan Foster. According to a report by ESPN‘s Ramona Shelburne and Paula Levigne, the LA guard has cut ties with Foster after he noticed around $1.5 million USD from his personal and business accounts have disappeared. Ball told ESPN he believes the longtime family friend, “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.” Foster, who is known to have a criminal past, owns 16.3% of Big Baller Brand, a label also started alongside Ball’s boisterous father LaVar Ball. The report goes on to state that Lonzo first noticed the missing amount when his financial adviser was unable to account for the $1.5 million USD. Lonzo, acting on the advise of his adviser, then turned to his father to look more into the situation. After reviewing past e-mails and documents, LaVar was stunned. “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.” Also in light of the situation, Lonzo’s agent, Harrison Gaines, posted an official statement to social media claiming he would be taking “a more active role” in his client’s career. In more sports-related news, Paul Pogba gifted his France teammates 2018 World Cup Championship rings.<doc-sep>David Zalubowski/Associated Press Lonzo Ball has filed a lawsuit against Big Baller Brand co-founder Alan Foster for allegedly using a "fraudulent scheme" to steal more than $1.5 million, according to TMZ Sports. The lawsuit also says Foster "threatened to expose the Ball family with false information to the public" after he was confronted about the missing money. Ball severed ties with Foster following the feud, per Ramona Shelburne and Paula Lavigne of ESPN.com. Foster owns 16.3 percent of the company, but according to the lawsuit, the Ball family had no knowledge of the fact that he had gone to prison for his role in a Ponzi scheme. They now believe he only got close to the family to steal money once Lonzo made it to the NBA. "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 Ball, Lonzo's father, told Shelburne and Lavigne. "At the end of the day, family comes first, and I support Zo wholeheartedly. Together, we will make this right." Lonzo appears to be distancing himself from the Big Baller Brand, having recently covered up a BBB tattoo on his arm. Video Play Button Videos you might like Meanwhile, LaVar said the "brand is good," per TMZ Sports, and proclaimed the shoe company will live on beyond the Foster situation.<doc-sep>Los Angeles Lakers point guard Lonzo Ball filed a lawsuit against Big Baller Brand co-founder Alan Foster on Tuesday, according to multiple reports. The Los Angeles Times, ESPN and other news outlets reported late Tuesday that Ball is alleging fraud and seeking to recoup more than $2 million from Foster, who Ball fired late last month. Ball claims Foster "conspired to embezzle millions of dollars and then divert those funds for his personal use, including to acquire assets in Ethiopia," according to ESPN. The lawsuit was reportedly filed to Los Angeles County Superior Court on Tuesday night, but it had not been processed and uploaded to the court's online record system as of early Wednesday morning. SPORTS, DELIVERED: Get latest news right in your inbox! CLICK & ROLL: Exclusive NBA commentary delivered to you Ball and his inner circle ousted Foster last month after Foster was unable to account for roughly $1.5 million of Ball's money; The 21-year-old told ESPN he believed Foster had "used his access to my business and personal finances to enrich himself." Foster, a longtime friend of Ball's father LaVar, was a co-founder of Big Baller Brand, the Ball family's clothing and shoe company. Ball has been out since Jan. 19 due to left ankle injuries and is expected to miss the remainder of the season. He has played in 95 games in his first two NBA seasons thus far, averaging 10 points, 6.4 assists and 6.2 rebounds per game. Contact Tom Schad at tschad@usatoday.com or on Twitter @Tom_Schad.<doc-sep>
Los Angeles Lakers guard Lonzo Ball is suing Big Baller Brand co-founder Alan Foster for allegedly utilizing a "fradulent scheme" to take money from the company, The Athletic's Shams Charania reported on Tuesday. According to Charania, lawsuit papers filed on Tuesday claim that Foster took money from Big Baller Brand "to purchase assets in Ethiopia as a means of, among other things, secreting stolen funds." Ball is suing for damages in excess of $2 million. Ball's lawsuit comes in light of ESPN's report that revealed Ball was missing $1.5 million from his personal and business accounts. According to the report, suspicions were first raised in October 2018, when Ball's financial advisor alleged that Lonzo's personal taxes and Big Baller Brand taxes could not be completed on time due to the missing funds. Records obtained by ESPN also revealed that Foster was sentenced to seven years in prison after pleading guilty to one cout of mail fraud and two counts of money laundering in 2002. Ball began to put distance between himself and the company with a post on Instagram on March 23. He also covered up his Big Baller Brand tattoo on his right arm, replacing the three B's with dice barring the numbers 1, 2 and 3, the numbers he and his brothers wear on the court. LaVar Ball commented on the allegations against Foster in a statement to ESPN on March 26. "I've always believed in the best in people," LaVar Ball said at the time. "Regretfully, I put my complete trust in Alan Foster to manage my son's business affairs. At the end of the day, family comes first, and I support Zo wholeheartedly. Together, we will make this right." Foster owned 16.3% of the company. Ball owns 51, while LaVar and Lonzo's mother Tina own 16.4 and 16.3, respectively.