Google image<\/figcaption><\/figure>\nTrouble continues to plague the Ball family as the future of Big Baller Brand is under pressure. Los Angeles Lakers guard Lonzo Ball, is stepping aside from the young company Big Baller Brand due to co-founder Alan Foster being linked to $1.5 million that went missing from Ball\u2019s personal account and business finances.<\/p>\n
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According to ESPN, Ball stated that Foster had “used his access to my business and personal finances to enrich himself. As a result, I have decided to sever all ties with Alan, effective immediately.”<\/p>\n
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Foster was accused by Humble Lukanga, Ball\u2019s financial planner, of stealing money from Big Baller Brand and the Lakers point guard\u2019s accounts. The conflict began in October when Lukanga sent a crucial email to Lonzo and his father about Foster being unsuccessful in tracking down where $1.5 million in cash has gone.<\/p>\n
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He asked Foster to show the transaction for the amount and Foster never complied.<\/p>\n
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According to ESPN, Lukanga attached two reports to the email that he alleged showed unexplained cash withdrawals from Big Baller Brand and transactions between BBB and Foster’s business, Marathon Consulting Inc.<\/p>\n
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“Over $1.5 million dollars has disappeared and he has wired over $474,000 to himself through Marathon Consulting (see attached report). So close to $2 million dollars has touched Alan’s hands but $1.5 million of it has disappeared in cash and can’t be tracked,” Lukanga wrote.<\/p>\n
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Foster became a family friend for the Ball family almost a decade ago. He worked as the business manager for BBB and other Ball family companies.<\/p>\n
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Lonzo\u2019s father, Lavar Ball said that it was Foster who convinced him to create a shoe and apparel company. Foster also has criminal history that includes a seven-year prison sentence for mail fraud in 2002 and money laundering.<\/p>\n
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JSU basketball player, Khalill Spencer, junior criminal justice major from Memphis, Tenn., was disheartened when he heard about the crafty situation.<\/p>\n
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\u201cThe betrayal of someone who was dear close to the family, like he was would have never seen this coming! It\u2019s like someone you and your dad is cool with and you let them visit your house and you later find out something in your room was stolen, and you find out that it was your dad\u2019s friend. Someone you allowed in your personal comfort zone, and meaningful business just blatant steals from you,\u201d said Spencer. \u201cEveryone knows it is immensely hard to find someone to trust with dealings with their money not to mention their family business. So you would think someone like Alan Foster would be someone you can rely on and trust because of the grown relationship they have built.\u201d<\/p>\n
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He continued, \u201cOn the other hand, I am more in shock with disappointment in Lonzo\u2019s representation on not having a correct in-detail background check on the person who was in control of his shares and ties with Big Baller Brand, as well as his father, no matter who the person is to them! In this kind of status in a family business and with Lonzo Ball being who he is they were more loose with the simple fact of money security on the family business, which highly shocking! I am in total agreements with the decision Lonzo has made to cut Frost from all ties in this business because upon his end nothing is adding up and has yet to give a statement in regards to the missing $1.5 million dollars in cash.\u201d<\/p>\n
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Another JSU student athlete shared a similar opinion. He stated why athletes start their own independent businesses and what he would\u2019ve done if he were in Lonzo\u2019s shoes.<\/p>\n
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\u201cInitially, I feel like the situation in a whole is wrong. Most athletes choose people whom they find loyal and trustworthy to manage their funds, as we can see that\u2019s not always the best choice. This is why up and coming athletes are choosing to manage their own money because the world is a devious place. When you can\u2019t trust the people you grew up around to help you better yourself, who can you trust? If I was Lonzo Ball, I would pay close attention and manage my own money,\u201d said Melvin Hollins, a junior interdisciplinary studies major from Jackson, Miss.<\/p>\n
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