Lonzo Ball severed ties with a part owner of Big Baller Brand and his father’s best friend, over a belief that the man embezzled money from Ball and his family.
Alan Foster speaks during the Junior Basketball Association championship game in Ontario on Aug. 12, 2018.
Ball’s camp has retained legal counsel in the past week to determine how to proceed on potential civil remedies, according to a person familiar with their plans. Foster was convicted of mail fraud and money laundering in 2002 along with a partner named Steven Woods, according to court documents reviewed by The Times. Foster and Woods told investors they had professional athletes as clients as a way to legitimize their fictitious business, Capitol Management Team. Foster was found to have defrauded 75 people of $4 million and forced to pay back nearly all of it. Foster was sentenced to 87 months in prison and served five years.
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