Lonzo Ball cuts ties with BBB co-founder 1.5M missing

Big Boss

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According to documents and emails reviewed by ESPN, questions about Foster's business decisions and communication were first raised last fall to Lonzo and LaVar by Lonzo's financial adviser. That adviser, Humble Lukanga of Life Line Financial Group, alleged in an October email that Lonzo's personal taxes and Big Baller's taxes could not be completed on time due to an inability to account for the whereabouts of $1.5 million.

Sources close to the Ball family told ESPN that Lonzo expressed his concerns about Foster to his father several times over the past few months but deferred to LaVar to manage the situation.

It wasn't until this week, the same sources said, that LaVar fully reviewed the email warnings and documents from Lukanga, as he had been traveling overseas with his younger sons in the fall. The sources described LaVar as "stunned" when the emails and documents were read to him. LaVar declined comment but issued a statement to ESPN calling the situation "devastating."


So you ignored the emails back in October and you just now read them :snoop:


Your own son came to you several times about alan foster and you didn't do anything :snoop:
 
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606onit

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That nicca Alan got a decent lil bytch (S4E12). :ld: I wouldve secured myself a nice lil bag with her too :usure: ANYONE GOT HER IG?
Lavar fukkin up! :heh:


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Bilz

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Big Boss said:
According to documents and emails reviewed by ESPN, questions about Foster's business decisions and communication were first raised last fall to Lonzo and LaVar by Lonzo's financial adviser. That adviser, Humble Lukanga of Life Line Financial Group, alleged in an October email that Lonzo's personal taxes and Big Baller's taxes could not be completed on time due to an inability to account for the whereabouts of $1.5 million.

Sources close to the Ball family told ESPN that Lonzo expressed his concerns about Foster to his father several times over the past few months but deferred to LaVar to manage the situation.

It wasn't until this week, the same sources said, that LaVar fully reviewed the email warnings and documents from Lukanga, as he had been traveling overseas with his younger sons in the fall. The sources described LaVar as "stunned" when the emails and documents were read to him. LaVar declined comment but issued a statement to ESPN calling the situation "devastating."


So you ignored the emails back in October and you just now read them :snoop:


Your own son came to you several times about alan foster and you didn't do anything :snoop:
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LaVar better hope that all Alan was doing was embezzling money. If he had any other illegal activity going on, LaVar would look guilty too for looking the other way this badly. I know of cases like this where people had to use low IQ as a legal defense and based on the details out there so far, LaVar might be legit retarded.

If Lonzo has a financial advisor, why did Alan have access to these accounts? As an ex-con, he never should have been there in the first place but if they did trust him to help run the business, he should not have had access to cash. Who would he need to pay outside of approved vendors? And you can set those up for ACH payments and/or do weekly check runs. It takes 2 minutes to review a payment run for reasonableness each week.

Alan may be a thief who betrayed their trust but its equally alarming that LaVar has absolutely no clue what he's doing.
 
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jwinfield

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Big Boss said:


So you ignored the emails back in October and you just now read them :snoop:
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Lonzo axes pal over allegations $1.5M is missing
The same sources told ESPN that, last week, Lonzo's personal manager, Darren Moore, raised questions with Lonzo and Lukanga about a separate matter involving Foster -- taxes related to income from the Ball family's lucrative Facebook Watch reality series, "Ball in the Family." Moore told ESPN that he had been unsuccessfully trying to determine -- through Foster -- whether expenses and revenues related to the series had been allocated properly by Foster. Moore declined to answer additional questions but issued a statement this week distancing himself from Foster.
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In an October email sent to Lonzo and his father under the subject line "Urgent - $1.5 million Dollars Missing," Lukanga wrote that he had been unsuccessful in having Foster "track down where $1.5 MILLION DOLLARS IN CASH HAS [gone]." Lukanga wrote that he had repeatedly asked Foster about transactions totaling that amount, but Foster "won't show any invoices or documentation of these expenses. He won't even give me the number to the vendors he says he paid. I'VE NEVER SEEN A COMPANY OPERATE BY WITHDRAWING MILLIONS IN CASH ... Only you and Alan can withdraw cash and I know you didn't take out $1.5 million dollars ... SO WHERE IS THE MONEY???"
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How do you get an email with that in the subject and not look at it for months :dahell:
In addition to his work with Big Baller Brand and LaVar's Junior Basketball Association, a professional league for developing players, Foster appeared in almost every episode of "Ball in the Family." He was often shown consulting with LaVar on decisions that affected the family or business. In one episode, Foster was shown trying to find out why players from JBA have had trouble collecting on their paychecks.
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"This dude is one of the smartest suckers ever," LaVar said. "He knows how everything goes. We had shirts made that said 'Team Ball' [and] 'UnbelievaBall.' And he [Foster] said, 'LaVar, your creativity is crazy. Let's create your brand, man. Your brand is bigger than anything. Somebody going to run away with your s---, man.'

"He [Foster] was like, 'I'll tell you what. You're going to put all the work in with your boys. I'll come back and run the agency. Whatever you need me to do. Let me do it, though.'"
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Played his ass, told him what he wanted to hear.
Of the financial scheme, Joseph Zwicker, the lead prosecutor in the case, told ESPN: "They targeted African-Americans that they got to know through churches and by other means. And they made various misrepresentations to them about their ability to return large sums on investments, which were false. They admitted that."
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According to two sources close to the family, over the past two years, the Lakers, too, expressed concerns to Foster over numerous customer complaints about Big Baller Brand made to the Better Business Bureau, which gave the company a failing grade in 2018. Last year, the bureau reported receiving 184 complaints over the past three years, mostly involving problems sending correct merchandise, shipping orders on time, and not providing information or responding to questions about delivery status.

"They still have an F with us," Blair Looney, president of the Better Business Bureau of Central California and Inland Empire Counties, told ESPN in January. "We are continuing to work with them on straightening things out."

Looney said it appears that Big Baller doesn't have the structure in place to handle online orders, and progress was going "slower than we would like to see."
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Trojan 24

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Bilz said:
LaVar better hope that all Alan was doing was embezzling money. If he had any other illegal activity going on, LaVar would look guilty too for looking the other way this badly. I know of cases like this where people had to use low IQ as a legal defense and based on the details out there so far, LaVar might be legit retarded.

If Lonzo has a financial advisor, why did Alan have access to these accounts? As an ex-con, he never should have been there in the first place but if they did trust him to help run the business, he should not have had access to cash. Who would he need to pay outside of approved vendors? And you can set those up for ACH payments and/or do weekly check runs. It takes 2 minutes to review a payment run for reasonableness each week.

Alan may be a thief who betrayed their trust but its equally alarming that LaVar has absolutely no clue what he's doing.
Click to expand...

This clown Alan having access to his accounts leads me to believe Zo really was bank rolling all of this off his rookie deal :francis:
 
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