LaVar Ball has been countersued by Big Baller Brand co-founder Alan Foster for concealment and breach of contract, according to The Blast, who reports that he's been accused of embezzling millions from his family company to fund his lavish lifestyle.
The Ball family cut ties with Foster back in March after $1.5 million reportedly disappeared from New Orleans Pelicans point guard Lonzo Ball's personal and business accounts. Foster, a family friend for several years, was sued for fraud, prompting an FBI probe into his affairs.
Foster has since launched a suit of his own, claiming that LaVar embezzled over $2.5 million from the company he helped launch.
A snippet from the suit reads: "In early 2016, in furtherance of LaVar’s intense desire to share in, or rise above, the glory and spotlight of his sons, LaVar approached Alan and asked for his business guidance on how to monopolize and gain fortune and fame from the names and likenesses of his three sons.
“In response, Alan suggested that the two men brand the ‘Ball’ family name in order to create basketball and entertainment-related businesses. LaVar loved Alan’s idea and wanted to make sure that he was the biggest star in the family, notwithstanding the fact that he was broke, had no savings, poor credit and zero business acumen."
Ball is being accused of using money taken from the company to upgrade his home and buy new cars.
Foster was a 16.3 percent owner of the Big Baller Brand before allegations surfaced earlier this year. Back in 2002, he was convicted after being charged for running a fraudulent stock scheme that made him almost $4 million and spent more than five years behind bars.
He also pleaded guilty to mail fraud and money laundering and would spend five years in prison for falling afoul of probation stipulations.
Meanwhile, Lonzo has sought to distance himself from BBB and is now thought to be open to signing a sneaker deal with another shoe company. Nike and Adidas are likely the biggest candidates, with the former reportedly strongly interested in signing his younger brother LaMelo to a deal following impressive performances playing pro ball in Australia.