FBI Investigating Lonzo Ball’s Former Big Baller Brand in Connection With Fraud
The FBI is investigating whether the longtime business manager of Lakers point guard Lonzo Ball and his family defrauded them of millions of dollars, according to two law enforcement officials.
Until recently, Ball said he and his family had no idea that Gregory Alan Foster, who he described as “like my second dad,” had served time in federal prison for taking part in a scheme that deprived investors of $3.735 million.
Foster was co-founder of Big Baller Brand, an apparel company launched in part by Lonzo’s father, LaVar, who sought to capitalize on the fame his three sons generated while playing for Chino Hills High.
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.
Read the full story on LATimes.com.