Shit was a good idea, but his dad fucked it up. No way I'm trusting anyone that's been in jail for fraud to help run my son's business.
Lonzo Ball is missing 1.5 Million dollars SMH
- Thread starter LordSinister
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- bbb lakers lonzo ball nba
The business was a horrible idea for Lonzo Ball. Lonzo Ball was the face of the business., but it was not his idea to start the business. He was pressured by Lavar to get involved in the BBB idea. Lavar was recruited by the criminal Alan Foster.
All Lonzo wanted to do was get his career started with the Lakers. He had finally realized his dream. He was the 2nd pick in the NBA Draft. Chosen by his home town team (LA Lakers). It doesn't get any better than that.
Being a good basketball player is a full time job for a rookie. You don't have time for some grandiose business, especially when it wasn't your idea or passion. The most fucked up part of the shit is, both Lavar and the Criminal Alan Foster were using Lonzo's money to fund the project.
The shit was doomed to fail. As the person funding this idea, Lonzo needed to be 100% committed to the project. Not only would he need to work on his basketball skills, but also keep track of the business that was using his money to exist.
Everyone keeps giving Lavar credit for being a visionary, but you can't be a visionary using another mans money, especially if the person funding the project is doing so figuratively at the point of a gun.
Not only was this dude using Lonzo's money to fund his Hair Brained shoe business scheme, but the stupid fuck was starting Basketball Leagues and shit, selling water using Lonzo's money, the fucking house he just bought was in Lonzo's name.
I know Lonzo's was saying "Damn Dad get up off me and let me breath".
Dumb Mother Fucker gave some stranger access to Lonzo's personal accounts.
HNIC
All Lonzo wanted to do was get his career started with the Lakers. He had finally realized his dream. He was the 2nd pick in the NBA Draft. Chosen by his home town team (LA Lakers). It doesn't get any better than that.
Being a good basketball player is a full time job for a rookie. You don't have time for some grandiose business, especially when it wasn't your idea or passion. The most fucked up part of the shit is, both Lavar and the Criminal Alan Foster were using Lonzo's money to fund the project.
The shit was doomed to fail. As the person funding this idea, Lonzo needed to be 100% committed to the project. Not only would he need to work on his basketball skills, but also keep track of the business that was using his money to exist.
Everyone keeps giving Lavar credit for being a visionary, but you can't be a visionary using another mans money, especially if the person funding the project is doing so figuratively at the point of a gun.
Not only was this dude using Lonzo's money to fund his Hair Brained shoe business scheme, but the stupid fuck was starting Basketball Leagues and shit, selling water using Lonzo's money, the fucking house he just bought was in Lonzo's name.
I know Lonzo's was saying "Damn Dad get up off me and let me breath".
Dumb Mother Fucker gave some stranger access to Lonzo's personal accounts.
HNIC
The business was a horrible idea for Lonzo Ball. Lonzo Ball was the face of the business., but it was not his idea to start the business. He was pressured by Lavar to get involved in the BBB idea. Lavar was recruited by the criminal Alan Foster.
All Lonzo wanted to do was get his career started with the Lakers. He had finally realized his dream. He was the 2nd pick in the NBA Draft. Chosen by his home town team (LA Lakers). It doesn't get any better than that.
Being a good basketball player is a full time job for a rookie. You don't have time for some grandiose business, especially when it wasn't your idea or passion. The most fucked up part of the shit is, both Lavar and the Criminal Alan Foster were using Lonzo's money to fund the project.
The shit was doomed to fail. As the person funding this idea, Lonzo needed to be 100% committed to the project. Not only would he need to work on his basketball skills, but also keep track of the business that was using his money to exist.
Everyone keeps giving Lavar credit for being a visionary, but you can't be a visionary using another mans money, especially if the person funding the project is doing so figuratively at the point of a gun.
Not only was this dude using Lonzo's money to fund his Hair Brained shoe business scheme, but the stupid fuck was starting Basketball Leagues and shit, selling water using Lonzo's money, the fucking house he just bought was in Lonzo's name.
I know Lonzo's was saying "Damn Dad get up off me and let me breath".
Dumb Mother Fucker gave some stranger access to Lonzo's personal accounts.
HNIC
Although I pretty much agree with everything you are saying, I would disagree with this one point:
Everyone keeps giving Lavar credit for being a visionary, but you can't be a visionary using another mans money, especially if the person funding the project is doing so figuratively at the point of a gun.
Empires have been built off of other people's money. With that said, you are right about Lonzo needing to take a more vested interest in making sure the business is run in a correct manner. As to your last point, I hope Lonzo doesn't feel forced to fund all his father's ideas. Otherwise, I see a blowup similar to what Kobe and his father went through a while back.
So he covered his BBB tattoo up
I agree you can have a great idea or vision and make it happen using another persons money. I was saying Lavar wants to be a visionary with Lonzo's money and Lonzo is not 100% on board with the idea.
HNIC
In reality Lonzo lost A LOT more than just 1.5 million. Cause aside from that, Im sure Nike wouldve offered him MILLIONS to sign with them the day he got selected by the Lakers (before he stepped on a court). At this point, IF IF IF they offered him a contract then it probably went from 8 digits to maybe 6 or 7 digits.
The business was a horrible idea for Lonzo Ball. Lonzo Ball was the face of the business., but it was not his idea to start the business. He was pressured by Lavar to get involved in the BBB idea. Lavar was recruited by the criminal Alan Foster.
All Lonzo wanted to do was get his career started with the Lakers. He had finally realized his dream. He was the 2nd pick in the NBA Draft. Chosen by his home town team (LA Lakers). It doesn't get any better than that.
Being a good basketball player is a full time job for a rookie. You don't have time for some grandiose business, especially when it wasn't your idea or passion. The most fucked up part of the shit is, both Lavar and the Criminal Alan Foster were using Lonzo's money to fund the project.
The shit was doomed to fail. As the person funding this idea, Lonzo needed to be 100% committed to the project. Not only would he need to work on his basketball skills, but also keep track of the business that was using his money to exist.
Everyone keeps giving Lavar credit for being a visionary, but you can't be a visionary using another mans money, especially if the person funding the project is doing so figuratively at the point of a gun.
Not only was this dude using Lonzo's money to fund his Hair Brained shoe business scheme, but the stupid fuck was starting Basketball Leagues and shit, selling water using Lonzo's money, the fucking house he just bought was in Lonzo's name.
I know Lonzo's was saying "Damn Dad get up off me and let me breath".
Dumb Mother Fucker gave some stranger access to Lonzo's personal accounts.
HNIC
Gospel.
Kid was first team All-American as a freshman; as you said, #2 pick in the draft; that’s 5-$10M of EASY money for your past work before ever suiting up in the NBA! My thing was; take that ‘NBA career site unseen’ money from Nike and other endorsements; ball out and, when that contract is up, move to BBB. Simple. Pops works on that branding with the two others while showing vague flashes of what’s/whose to come, which was Zo. Nah, buddy took his kid, who I think if he can stay healthy will be an all-star, and used the absolute control he had over him to impose his will. It’s sad.
Plus, that boy now has a mouth to feed. Priorities change quick when you’re flesh and blood is having bread took out their mouth and pocket. This is an expensive lesson but may be worth the cost down the line.
The business was a horrible idea for Lonzo Ball. Lonzo Ball was the face of the business., but it was not his idea to start the business. He was pressured by Lavar to get involved in the BBB idea. Lavar was recruited by the criminal Alan Foster.
All Lonzo wanted to do was get his career started with the Lakers. He had finally realized his dream. He was the 2nd pick in the NBA Draft. Chosen by his home town team (LA Lakers). It doesn't get any better than that.
Being a good basketball player is a full time job for a rookie. You don't have time for some grandiose business, especially when it wasn't your idea or passion. The most fucked up part of the shit is, both Lavar and the Criminal Alan Foster were using Lonzo's money to fund the project.
The shit was doomed to fail. As the person funding this idea, Lonzo needed to be 100% committed to the project. Not only would he need to work on his basketball skills, but also keep track of the business that was using his money to exist.
Everyone keeps giving Lavar credit for being a visionary, but you can't be a visionary using another mans money, especially if the person funding the project is doing so figuratively at the point of a gun.
Not only was this dude using Lonzo's money to fund his Hair Brained shoe business scheme, but the stupid fuck was starting Basketball Leagues and shit, selling water using Lonzo's money, the fucking house he just bought was in Lonzo's name.
I know Lonzo's was saying "Damn Dad get up off me and let me breath".
Dumb Mother Fucker gave some stranger access to Lonzo's personal accounts.
HNIC
Gospel.
Kid was first team All-American as a freshman; as you said, #2 pick in the draft; that’s 5-$10M of EASY money for your past work before ever suiting up in the NBA! My thing was; take that ‘NBA career site unseen’ money from Nike and other endorsements; ball out and, when that contract is up, move to BBB. Simple. Pops works on that branding with the two others while showing vague flashes of what’s/whose to come, which was Zo. Nah, buddy took his kid, who I think if he can stay healthy will be an all-star, and used the absolute control he had over him to impose his will. It’s sad.
Plus, that boy now has a mouth to feed. Priorities change quick when your flesh and blood is having bread took out their mouth and pocket. This is an expensive lesson but may be worth the cost down the line.
Yep. And what’s he done to warrant an investment by Nike at this point in his NBA career? Add to it; dude apparently has ankle issues; you think Nike wants him pictured in their kicks if he fucks it up again, especially after the Williamson scare?
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No shit, a mouth to feed changes everything. I think Lavar is a good dude and was a good dude most of Lonzo's early life, but that fame brought something out of him that even he might not have known existed.
HNIC
The business was a horrible idea for Lonzo Ball. Lonzo Ball was the face of the business., but it was not his idea to start the business. He was pressured by Lavar to get involved in the BBB idea. Lavar was recruited by the criminal Alan Foster.
All Lonzo wanted to do was get his career started with the Lakers. He had finally realized his dream. He was the 2nd pick in the NBA Draft. Chosen by his home town team (LA Lakers). It doesn't get any better than that.
Being a good basketball player is a full time job for a rookie. You don't have time for some grandiose business, especially when it wasn't your idea or passion. The most fucked up part of the shit is, both Lavar and the Criminal Alan Foster were using Lonzo's money to fund the project.
The shit was doomed to fail. As the person funding this idea, Lonzo needed to be 100% committed to the project. Not only would he need to work on his basketball skills, but also keep track of the business that was using his money to exist.
Everyone keeps giving Lavar credit for being a visionary, but you can't be a visionary using another mans money, especially if the person funding the project is doing so figuratively at the point of a gun.
Not only was this dude using Lonzo's money to fund his Hair Brained shoe business scheme, but the stupid fuck was starting Basketball Leagues and shit, selling water using Lonzo's money, the fucking house he just bought was in Lonzo's name.
I know Lonzo's was saying "Damn Dad get up off me and let me breath".
Dumb Mother Fucker gave some stranger access to Lonzo's personal accounts.
HNIC
Damn. This the type of shit could ruin a father/son relationship.
So basically Lavar got swindled. Damn his credibility is shit now.
http://www.espn.com/nba/story/_/id/26428048/lakers-ball-files-suit-bbb-co-founder
Los Angeles Lakers guard Lonzo Ball filed suit late Tuesday night against the former co-founder and manager of Big Baller Brand, Alan Foster, for damages of more than $2 million plus interest, alleging that Foster "conspired to embezzle millions of dollars and then divert those funds for his personal use, including to acquire assets in Ethiopia."
In court documents obtained by ESPN, which were filed electronically on Tuesday night in Los Angeles Superior Court and expected to be processed Wednesday morning, Ball alleges that "shortly after his release from prison, Foster embarked on his plan to target Ball and his family" and then "fleeced them of millions of dollars" by "creating a variety of corporate entities in which he gave himself ownership interests and managerial control."
Foster then used those entities, the suit alleges, to "directly and indirectly funnel substantial amounts of Ball family money to himself."
After Ball declared for the NBA draft, the suit alleges that Foster "persuaded Ball that it would be in his best financial interest to form his own company and his own brand of apparel and merchandise rather than aligning himself with established brands that had expressed substantial interest in signing Ball to lucrative endorsement deals."
ESPN reported on March 22 that Ball severed ties with Foster over concerns that the longtime family friend has a criminal past and also has not adequately accounted for the whereabouts of roughly $1.5 million from Ball's personal and business accounts.
Ball told ESPN he believes that Foster, a friend of Lonzo's father, LaVar, for almost a decade who owns 16.3 percent of the Big Baller Brand shoe and apparel company, 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."
Foster filed the paperwork to create BBB by changing the name of an existing company, NeXT Catch LLC, and assigning himself a role of managing member, with a provision that states that "title to assets to be held in the company's name or the name of any nominee the manager may designate." That operating agreement, which was obtained by ESPN, was signed by Lonzo Ball, LaVar Ball, Tina Ball and Foster.
In 2002, Foster was sentenced to more than seven years in prison after pleading guilty to one count of mail fraud and two counts of money laundering as part of a scheme that defrauded 70 investors of $4 million, according to federal court records obtained by ESPN. Foster also was ordered to pay $3.7 million in restitution to victims.
The suit alleges that Foster never informed Ball or his family of his criminal past; and that months before meeting the family, Foster had his parole revoked -- and was sentenced to an additional five months in prison -- because he could not show he was compliant with the conditions of his parole to "not engage in any business involving investment, asset management or protection, or any other business involving the protection of funds."
Ball also alleges that Foster arranged for at least eight loans with financing fees of nearly $950,000 to be taken out by Ball or another entity owned by Ball, Family Always Matters LLC, from "non-traditional lenders" that "included exorbitant financing charges that were paid in whole or in part to Foster without Ball's knowledge."
When Ball confronted Foster about these concerns about his conduct, the suit alleges that Foster responded by "threatening to publicly disseminate false and misleading information concerning Ball and his family."
Before the March 22 article, Foster initially offered to arrange an in-person meeting with ESPN alongside Ball's father at the Ball estate in Chino Hills, California. But repeated subsequent attempts via email, phone calls and text messages to reach Foster for his perspective were met with no response. On March 21, Foster suggested meeting in person at the Ball estate the following day, but then later that day, he instead suggested the middle of the following week because he was "super busy"; Foster otherwise offered no comment.
ESPN reached out to Foster and his attorney, who is referenced in the lawsuit, for comment late Tuesday night but did not get a response.
http://www.espn.com/nba/story/_/id/26428048/lakers-ball-files-suit-bbb-co-founder
Los Angeles Lakers guard Lonzo Ball filed suit late Tuesday night against the former co-founder and manager of Big Baller Brand, Alan Foster, for damages of more than $2 million plus interest, alleging that Foster "conspired to embezzle millions of dollars and then divert those funds for his personal use, including to acquire assets in Ethiopia."
In court documents obtained by ESPN, which were filed electronically on Tuesday night in Los Angeles Superior Court and expected to be processed Wednesday morning, Ball alleges that "shortly after his release from prison, Foster embarked on his plan to target Ball and his family" and then "fleeced them of millions of dollars" by "creating a variety of corporate entities in which he gave himself ownership interests and managerial control."
Foster then used those entities, the suit alleges, to "directly and indirectly funnel substantial amounts of Ball family money to himself."
After Ball declared for the NBA draft, the suit alleges that Foster "persuaded Ball that it would be in his best financial interest to form his own company and his own brand of apparel and merchandise rather than aligning himself with established brands that had expressed substantial interest in signing Ball to lucrative endorsement deals."
ESPN reported on March 22 that Ball severed ties with Foster over concerns that the longtime family friend has a criminal past and also has not adequately accounted for the whereabouts of roughly $1.5 million from Ball's personal and business accounts.
Ball told ESPN he believes that Foster, a friend of Lonzo's father, LaVar, for almost a decade who owns 16.3 percent of the Big Baller Brand shoe and apparel company, 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."
Foster filed the paperwork to create BBB by changing the name of an existing company, NeXT Catch LLC, and assigning himself a role of managing member, with a provision that states that "title to assets to be held in the company's name or the name of any nominee the manager may designate." That operating agreement, which was obtained by ESPN, was signed by Lonzo Ball, LaVar Ball, Tina Ball and Foster.
In 2002, Foster was sentenced to more than seven years in prison after pleading guilty to one count of mail fraud and two counts of money laundering as part of a scheme that defrauded 70 investors of $4 million, according to federal court records obtained by ESPN. Foster also was ordered to pay $3.7 million in restitution to victims.
The suit alleges that Foster never informed Ball or his family of his criminal past; and that months before meeting the family, Foster had his parole revoked -- and was sentenced to an additional five months in prison -- because he could not show he was compliant with the conditions of his parole to "not engage in any business involving investment, asset management or protection, or any other business involving the protection of funds."
Ball also alleges that Foster arranged for at least eight loans with financing fees of nearly $950,000 to be taken out by Ball or another entity owned by Ball, Family Always Matters LLC, from "non-traditional lenders" that "included exorbitant financing charges that were paid in whole or in part to Foster without Ball's knowledge."
When Ball confronted Foster about these concerns about his conduct, the suit alleges that Foster responded by "threatening to publicly disseminate false and misleading information concerning Ball and his family."
Before the March 22 article, Foster initially offered to arrange an in-person meeting with ESPN alongside Ball's father at the Ball estate in Chino Hills, California. But repeated subsequent attempts via email, phone calls and text messages to reach Foster for his perspective were met with no response. On March 21, Foster suggested meeting in person at the Ball estate the following day, but then later that day, he instead suggested the middle of the following week because he was "super busy"; Foster otherwise offered no comment.
ESPN reached out to Foster and his attorney, who is referenced in the lawsuit, for comment late Tuesday night but did not get a response.
This guy's career, and the Lakers are just fucked. Everyone knew about the stolen money, but dude almost lost his Lakers contract, according to this report.
Lonzo Ball's former Big Baller Brand associate is the subject of an FBI fraud investigation
By Tania Ganguli and Richard Winton
Apr 24, 2019 | 5:45 PM
Gregory Alan Foster, shown in 2008, owns 16.3% of Big Baller Brand. He was removed from his company post in March. (Kirby Lee / Associated Press)
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.
Foster, who owns 16.3% of Big Baller Brand, was removed as a manager of the company in March, according to the lawsuit.
Foster, 52, could not be reached for comment. His whereabouts are unknown.
“Obviously, it hurt me just because of a lot of stuff I’ve been through with him,” Lonzo Ball said on April 10, one day after the Lakers’ season ended. “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.”
The Ball family and its financial team are cooperating with federal investigators.
It is unclear when authorities opened their investigation of Foster, but one law enforcement source said the investigation is at least 2 months old. The sources spoke on condition of anonymity because the inquiry is ongoing. The FBI declined to comment.
Complicating the situation is the trust that existed between LaVar Ball and Foster, according to one of the law enforcement authorities. The men met nearly a decade ago when their sons were attending middle school together and they remained close until last month, just weeks before Lonzo and Big Baller Brand filed suit on April 2. LaVar has said he allowed Foster to control his son’s business affairs. What’s unclear is how much he knew about his friend’s background.
Foster was convicted of running a fraudulent stock scheme in 2002 and served more than five years in prison for taking money from 75 investors. He and a business partner, Steven Woods, pleaded guilty to mail fraud and money laundering, according to court records.
In the scheme, Foster and Woods promised returns up to 25% every 90 days and bragged to potential clients that professional basketball players such as as Robert Horry, David Robinson and Avery Johnson were investors. Actually, none were.
In their plea agreements, Foster and Woods admitted most of the money was never invested but rather applied toward personal use for mortgage payments, rent and leases on luxury automobiles. Foster was sentenced to 87 months in prison and served five years.
During his sentencing hearing, prosecutor Joseph Zwicker warned that Foster might do this again, noting that during a phone call the inmate didn’t know was being recorded, he told an associate he had learned “how not to get myself in this predicament ever again in life.”
Reading from a transcript of the call, Zwicker quoted Foster as saying, “I’m going to have too many attorneys and too many accountants blocking the way to even get to me.”
Foster’s attorney said the prosecutor misunderstood what his client was saying. He argued that Foster was describing how he would avoid criminal activity in the future.
“I just want to let everybody know that I’m remorseful, humiliated, ashamed of my actions,” Foster said during sentencing. “I apologize from my heart to the victims, and apologize to my family for letting them down.”
After five years in prison, Foster was released on probation. In 2009, he violated the terms of his release and went back to prison for five months.
Shortly after his release, he met the Ball family. LaVar and wife Tina were raising their three sons to be dominant basketball players. Lonzo, the oldest, was 12. In the years that followed, he and brothers LaMelo and LiAngelo became national sensations, their on-the-court exploits exploding over social media, leading to tens of thousands of followers.
Big Baller Brand launched just before Lonzo’s one and only season playing for UCLA, and the company became exponentially more popular as he prepared for the NBA draft. The openings of its pop-up shops drew hundreds, mostly young people.
In the lawsuit, it is alleged that Foster convinced Lonzo that he should help grow Big Baller Brand rather than sign a lucrative deal with an established apparel company as most of the best NBA prospects do. Top draft picks can net millions of dollars in such deals, but Lonzo and his father chose a different route.
Foster also encouraged Lonzo to refuse to workout for any team other than the Lakers, according to a person familiar with their communications. In June 2017, Foster sat at the Ball family table along with LaVar, his three sons and Lonzo’s agent, Harrison Gaines, as the Lakers chose Lonzo second overall in the draft. When the pick was made, Lonzo got congratulations from everyone, including a handshake-hug from Foster, and quickly put on a pair of Lakers-themed Big Baller Brand shoes.
Soon after the company debuted its first line of shoes, Big Baller Brand received an F rating from the Better Business Bureau. The company was sued by a supplier that said it hadn’t been paid. Some customers complained they waited weeks or even months for products, and often couldn’t get a response when they attempted to contact the gmail account that served as the customer service point of contact. Responses were often replete with grammatical errors.
“Everything about it was unprofessional,” said Adam Panfil, who purchased a Big Baller Brand sweatshirt for his son’s 12th birthday but didn’t receive it for two months.
Lonzo Ball, the majority owner of Big Baller Brand, declined to comment. LaVar Ball did not respond to phone calls and text messages.
In addition to his role with the company, Foster became the family’s de facto publicist, and LaVar became known from audacious proclamations. A bit player for Division II Cal State Los Angeles in his heyday, LaVar boasted that he could have defeated Michael Jordan at a game of one-on-one. He called Lonzo the best basketball player in the world.
LaVar’s public antics often made the Lakers uncomfortable. When he publicly criticized the organization and former coach Luke Walton, then-president of basketball operations Magic Johnson and general manager Rob Pelinka met with him to ask that he temper his rhetoric. He didn’t.
Foster confronted reporters who wrote anything of which he disapproved. He also tried to limit the influence of people working with the Ball family who weren’t of his choosing, according to people close to the family.
In October, Lonzo and LaVar were alerted by a different financial manager about what appeared to be suspicious transactions, according to the lawsuit. Foster denied wrongdoing and urged the family to distance themselves from the advisor.
LaVar continued his relationship with Foster, who helped broker the enrollment of LaMelo at Spire Institute, a private high school that operates as a sports academy in Ohio. At a news conference announcing LaMelo would enroll there, LaVar called Foster his “brother” and said he had been entrusted to find a destination for the youngest of LaVar’s sons.
In December, Foster asked for money from the organizer of one tournament in which Spire was scheduled to participate — an appearance fee for LaMelo— according to a person affiliated with the tournament, confirming a Forbes report. Spire knew nothing of the request, the person said. Spire ended up not participating in the tournament.
During the past Lakers season, LaVar was noticeably more reserved with his opinions about Lonzo and the team, but Foster was still exerting his influence behind the scenes. In January, Lonzo suffered a severe ankle sprain. When the injury wasn’t healing properly, Foster, with LaVar’s support, arranged for Lonzo to have surgery in Ohio against the team’s wishes, according to two people familiar with the situation. The Lakers threatened to void Lonzo’s contract if he underwent the procedure and sent a plane to retrieve their second-year point guard.
In April, a day after the Lakers’ season ended, Lonzo was asked why he didn’t immediately heed warnings about Foster’s financial management.
“[Foster is] like my second dad,” Lonzo replied. “So when he came to me, I just talked to him and I didn’t think there was anything wrong with it. He just gave me his story. Now, looking back at it, obviously I wish we would have jumped at it back in October.”
Lonzo Ball's former Big Baller Brand associate is the subject of an FBI fraud investigation
By Tania Ganguli and Richard Winton
Apr 24, 2019 | 5:45 PM
Gregory Alan Foster, shown in 2008, owns 16.3% of Big Baller Brand. He was removed from his company post in March. (Kirby Lee / Associated Press)
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.
Foster, who owns 16.3% of Big Baller Brand, was removed as a manager of the company in March, according to the lawsuit.
Foster, 52, could not be reached for comment. His whereabouts are unknown.
“Obviously, it hurt me just because of a lot of stuff I’ve been through with him,” Lonzo Ball said on April 10, one day after the Lakers’ season ended. “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.”
The Ball family and its financial team are cooperating with federal investigators.
It is unclear when authorities opened their investigation of Foster, but one law enforcement source said the investigation is at least 2 months old. The sources spoke on condition of anonymity because the inquiry is ongoing. The FBI declined to comment.
Complicating the situation is the trust that existed between LaVar Ball and Foster, according to one of the law enforcement authorities. The men met nearly a decade ago when their sons were attending middle school together and they remained close until last month, just weeks before Lonzo and Big Baller Brand filed suit on April 2. LaVar has said he allowed Foster to control his son’s business affairs. What’s unclear is how much he knew about his friend’s background.
Foster was convicted of running a fraudulent stock scheme in 2002 and served more than five years in prison for taking money from 75 investors. He and a business partner, Steven Woods, pleaded guilty to mail fraud and money laundering, according to court records.
In the scheme, Foster and Woods promised returns up to 25% every 90 days and bragged to potential clients that professional basketball players such as as Robert Horry, David Robinson and Avery Johnson were investors. Actually, none were.
In their plea agreements, Foster and Woods admitted most of the money was never invested but rather applied toward personal use for mortgage payments, rent and leases on luxury automobiles. Foster was sentenced to 87 months in prison and served five years.
During his sentencing hearing, prosecutor Joseph Zwicker warned that Foster might do this again, noting that during a phone call the inmate didn’t know was being recorded, he told an associate he had learned “how not to get myself in this predicament ever again in life.”
Reading from a transcript of the call, Zwicker quoted Foster as saying, “I’m going to have too many attorneys and too many accountants blocking the way to even get to me.”
Foster’s attorney said the prosecutor misunderstood what his client was saying. He argued that Foster was describing how he would avoid criminal activity in the future.
“I just want to let everybody know that I’m remorseful, humiliated, ashamed of my actions,” Foster said during sentencing. “I apologize from my heart to the victims, and apologize to my family for letting them down.”
After five years in prison, Foster was released on probation. In 2009, he violated the terms of his release and went back to prison for five months.
Shortly after his release, he met the Ball family. LaVar and wife Tina were raising their three sons to be dominant basketball players. Lonzo, the oldest, was 12. In the years that followed, he and brothers LaMelo and LiAngelo became national sensations, their on-the-court exploits exploding over social media, leading to tens of thousands of followers.
Big Baller Brand launched just before Lonzo’s one and only season playing for UCLA, and the company became exponentially more popular as he prepared for the NBA draft. The openings of its pop-up shops drew hundreds, mostly young people.
In the lawsuit, it is alleged that Foster convinced Lonzo that he should help grow Big Baller Brand rather than sign a lucrative deal with an established apparel company as most of the best NBA prospects do. Top draft picks can net millions of dollars in such deals, but Lonzo and his father chose a different route.
Foster also encouraged Lonzo to refuse to workout for any team other than the Lakers, according to a person familiar with their communications. In June 2017, Foster sat at the Ball family table along with LaVar, his three sons and Lonzo’s agent, Harrison Gaines, as the Lakers chose Lonzo second overall in the draft. When the pick was made, Lonzo got congratulations from everyone, including a handshake-hug from Foster, and quickly put on a pair of Lakers-themed Big Baller Brand shoes.
Soon after the company debuted its first line of shoes, Big Baller Brand received an F rating from the Better Business Bureau. The company was sued by a supplier that said it hadn’t been paid. Some customers complained they waited weeks or even months for products, and often couldn’t get a response when they attempted to contact the gmail account that served as the customer service point of contact. Responses were often replete with grammatical errors.
“Everything about it was unprofessional,” said Adam Panfil, who purchased a Big Baller Brand sweatshirt for his son’s 12th birthday but didn’t receive it for two months.
Lonzo Ball, the majority owner of Big Baller Brand, declined to comment. LaVar Ball did not respond to phone calls and text messages.
In addition to his role with the company, Foster became the family’s de facto publicist, and LaVar became known from audacious proclamations. A bit player for Division II Cal State Los Angeles in his heyday, LaVar boasted that he could have defeated Michael Jordan at a game of one-on-one. He called Lonzo the best basketball player in the world.
LaVar’s public antics often made the Lakers uncomfortable. When he publicly criticized the organization and former coach Luke Walton, then-president of basketball operations Magic Johnson and general manager Rob Pelinka met with him to ask that he temper his rhetoric. He didn’t.
Foster confronted reporters who wrote anything of which he disapproved. He also tried to limit the influence of people working with the Ball family who weren’t of his choosing, according to people close to the family.
In October, Lonzo and LaVar were alerted by a different financial manager about what appeared to be suspicious transactions, according to the lawsuit. Foster denied wrongdoing and urged the family to distance themselves from the advisor.
LaVar continued his relationship with Foster, who helped broker the enrollment of LaMelo at Spire Institute, a private high school that operates as a sports academy in Ohio. At a news conference announcing LaMelo would enroll there, LaVar called Foster his “brother” and said he had been entrusted to find a destination for the youngest of LaVar’s sons.
In December, Foster asked for money from the organizer of one tournament in which Spire was scheduled to participate — an appearance fee for LaMelo— according to a person affiliated with the tournament, confirming a Forbes report. Spire knew nothing of the request, the person said. Spire ended up not participating in the tournament.
During the past Lakers season, LaVar was noticeably more reserved with his opinions about Lonzo and the team, but Foster was still exerting his influence behind the scenes. In January, Lonzo suffered a severe ankle sprain. When the injury wasn’t healing properly, Foster, with LaVar’s support, arranged for Lonzo to have surgery in Ohio against the team’s wishes, according to two people familiar with the situation. The Lakers threatened to void Lonzo’s contract if he underwent the procedure and sent a plane to retrieve their second-year point guard.
In April, a day after the Lakers’ season ended, Lonzo was asked why he didn’t immediately heed warnings about Foster’s financial management.
“[Foster is] like my second dad,” Lonzo replied. “So when he came to me, I just talked to him and I didn’t think there was anything wrong with it. He just gave me his story. Now, looking back at it, obviously I wish we would have jumped at it back in October.”
I would love to see the lakers try to void a contract.
Where’s the flash?
He had the opportunity to fly straight
Still chose to be a con, smh
Still chose to be a con, smh
LaVar didn’t respond to phones messages or text? mr old I like to talk as mf, oh you ain’t got shit to say now? Really?
Man this shit is funny
Mofo was pinching and pinching then was like nah, fuck this! I’m taking the whole loaf! Greed, it’ll get you caught up lol
mr old I like to talk as mf, oh you ain’t got shit to say now? Really?Man this shit is funny
Mofo was pinching and pinching then was like nah, fuck this! I’m taking the whole loaf! Greed, it’ll get you caught up lolIt might be easier than you think regarding something as serious as surgery. I'm sure somewhere in the contract, there is language making it possible.
Ol diarrhea mouth ass Lavar still MIA