LaVar Ball Accused Of Stealing Nearly $3 Million
LaVar Ball being accused of stealing nearly $3 million.
The eccentric basketball dad currently finds himself on the wrong end of a counter lawsuit from Alan Foster in which he claims that LaVar embezzled nearly $3 million as he “fraudulently utilized BBB and BSG to fund his personal lifestyle.”
According to legal documentation obtained by The Blast, LaVar is being accused of “embezzling over $2.5 million from the family-owned companies and exploiting his own children for personal wealth and fame.”
Furthermore, Foster insists that “thorough investigation into the facts behind this litigation reveals that LaVar intentionally misled Lonzo about Alan’s alleged theft of BBB funds in an effort to (a) cover up the fact that LaVar stole from, and continues to steal from, Ball Sports Group, Inc. (“BSG”) and Big Baller Brand, LLC (“BBB”), which he uses as his personal piggy banks.”
Above all, Foster maintains that LaVar poorly mismanaged the company’s finances and then opted to blame him for it.
“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 three sons,” the complaint reads.
“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.”
With this legal battle getting progressively uglier by the day, it remains to be seen who, if anyone, will ultimately come out victorious.