Confirmed in a report from TotalProSports.com, controversial Big Baller Brand founder LaVar Ball is being accused of embezzling $2.5 million from his business partner, Alan Foster, and using his own children’s likeness for personal wealth/fame.
In reports/documents obtained from a source close to the website, Foster has sued Ball after he claimed that his partner ‘spent the company’s money to fund his extravagant lifestyle.’
Here’s what the documents said when Foster’s lawsuit was announced.
“In early 2016, in furtherance of LaVar’s intense desire to share in, or rise above, the glory and spotlight of his sons, LaVar approached Alan and asked for his business guidance on how to monopolize and gain fortune and fame from the names and likenesses of his sons. “In response, Alan suggested that the two men brand the “Ball” family name in order to create basketball and entertainment-related businesses. LaVar loved Alan’s idea and wanted to make sure that he was the biggest star in the family, notwithstanding the fact that he was broke, had no savings, poor credit and zero business acumen.”
“LaVar is a liar who fraudulently utilized BBB and BSG (Ball Sports Group, Inc.) to fund his personal lifestyle.”
Foster claims that when he invested his own money in order to launch the brands and once the companies were bringing in money, Ball was using the funds and assets for personal upgrades, such as money spent towards the family house and sports cars for his children.
However it was LaVar’s son, Lonzo, that sued Foster of misusing funds from the company earlier this year.
In the counterclaim, Foster goes on record and said that he believes that LaVar strongly urged his son to file that suit.
“The facts behind this legal proceeding reveals that LaVar intentionally misled Lonzo about the alleged theft of BBB funds to cover up in effort the fact that LaVar stole, and continues to steal from, BSG and Big Baller Brand, LLC (“BBB”), which he uses as personal piggy banks,” the claim stated.
The full title of the lawsuit against LaVar and Lonzo is for Fraudulent Concealment, and Breach of Contract.
Let’s see how this will turn out, because it sounds like this will be turning ugly, and fast.
