According to official paperwork obtained by NBA insider Shams Charania, Zo is suing Foster for damages "in excess of $2 million" and "funds taken by Foster from BBB...to purchase assets in Ethiopia in means of, among other things, secreting stolen funds."
The lawsuit, which was reportedly filed to Los Angeles County Superior Court on Tuesday night, follows news of Lonzo parting ways with Foster last month relating to allegations of roughly $1.5 million from Zo's bank accounts going unaccounted for.
ESPN's Ramona Shelburne obtained federal records indicating that this was not the first time Foster was involved in fraudulent behavior. He was sentenced to over seven years in prison back in 2002 for mail fraud and money laundering that resulted in $4 million being taken from 70 investors. Ball's lawsuit claims that this information was never disclosed to the family upon going into business with Foster.
This is just the latest chapter in the seemingly imminent demise of Big Baller Brand. Around the time that ties were severed with Foster, reports also surfaced that the Lakers organization was questioning BBB footwear's involvement in Ball's lingering ankle injuries. The 21-year old also recently covered up the "BBB" logo tattooed on his arm amid rumors he would be joining Nike in the future.
Despite the rough waters as of late, LaVar recently spoke to Las Vegas radio station 98.5 KLUC to let everyone know the brand is not dead yet. "The brand is good. It's just somebody did something bad to it...We had a snake up in the thing, but you gotta understand this, I'm a snake charmer," he said. "When you're a snake charmer, you're gonna get bit."
UPDATE (04/25): According to a new report by the Los Angeles Times, Big Baller Brand co-founder Alan Foster is now under investigation by the FBI for fraud. Authorities say the investigation stems from the lawsuit filed by Lonzo Ball earlier this month that alleges over $2 million of his personal funds were stolen by Foster. The Ball family and its financial team are reportedly cooperating with the FBI as well.
Lonzo commented on the incident on April 10 following the conclusion of the NBA regular season. "Obviously, it hurt me just because of a lot of stuff I’ve been through with him. A lot of decisions he made on my behalf and stuff. So it hurt. It hurt a lot. Known him since I was like 12, so kind of hit me. But you know I’m over it now. Just trying to stay positive and move on to bigger and better."
Stay tuned as more updates become available regarding this ongoing investigation.