Lonzo Ball breaks ties with Big Baller Brand co-founder after $1.5 million goes missing
Lonzo Ball has severed ties with one of the family’s close business advisers over $1.5 million in missing money.
According to Ramona Shelburne and Paula Lavigne of ESPN, Ball has severed all ties, “effective immediately,” with Alan Foster, a business manager and co-founder of Big Baller Brand, the Los Angeles Lakers guard said in a statement.
Foster has known LaVar Ball for a decade and is said to be the man who convinced the Ball family patriarch to form his own shoe brand instead of signing an established deal. The discrepancy came about last fall, when Lonzo Ball’s financial adviser was unable to account for $1.5 million.
In their reporting, ESPN discovered that Foster was convicted of money laundering in 2002 as part of a fraud scheme and spent time in prison, which the Ball family was unaware of.
This is not the first time Big Baller Brand has come in for some public scrutiny, but this is pretty damaging for Lonzo personally. It appears he’s taking aggressive steps to weed out the problem.