The Ball's reportedly had no idea of Foster's criminal history.
Alan Foster, the Big Baller Brand co-founder who reportedly stole at least $1.5 million from Lonzo Ball, is now being investigated by the FBI for fraud. According to the Los Angeles Times' Tania Ganguli and Richard Winton, "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."
Foster, who LaVar Ball previously called his "brother," allegedly made at least $1.5M in unexplained cash withdrawals between 2016 and 2018. The lawsuit is seeking more than $2 million in damages.
The LA Times also reports that Foster previously served over five years in prison for taking money from investors. The Ball's reportedly had no idea of his criminal history.
"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."
Lonzo Ball cut ties with Foster in March. According to ESPN.com's Ramona Shelburne Ball revealed that the decision was made because Foster "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."