Ne-Yo Sues Former Manager For $8 Million

Published: Saturday 2nd Aug 2014 by David

neyo-that-grape-juice-she-is-diva-that-grape-juice-1

‘Should Be You’ singer Ne-Yo has filed a lawsuit against his former manager Kevin Foster this week, suing the industry player for forging his signature and pouring his money into a failing water company at which he served as CFO, unbeknownst to the R&B hit maker.

An unfortunate tale below…

‘NY Daily News’ reveals:

Foster’s job was to manage the star’s bank accounts, “ensure Smith was financially situated as to maintain his accustomed lifestyle for the remainder of his life, protect Smith from financial ruin, and mitigate risk of frivolous spending.”

When Foster left to start his own company, Ne-Yo went with him, the suit says. The two “developed a personal relationship, with Smith eventually placing complete trust in Foster’s handling Smith and his companies’ finances and affairs,” the suit says.

But the action says he recently found out that faith was misplaced.

Ne-Yo discovered that Foster had been moved some of his money without his permission, and when he hired another accounting firm, they “uncovered instances of Foster engaging in self-dealing and inappropriate conduct.” That included forging Ne-Yo’s name on loan documents, the suit says.

Foster also sank some big bucks of Ne-Yo’s into a water company that was teetering on the edge of bankruptcy – while never telling Ne-Yo he was the company’s president and CFO, the suit says.

The suit seeks the return of the $4.5 million – plus the $3.5 million in fees Ne-Yo paid Foster over the years.

Ne-Yo’s decision to sue his former friend comes as he gears up to promote his next studio album, two years after the release of ‘R.E.D.’

Reportedly called ‘Non Fiction‘, the release will swing by in the September of this year, hopefully undisturbed by the legal drama the Grammy winning chart topper now finds himself faced with.

Your thoughts?

Posted under:

Comments 5

Please Post Your Comments & Reviews

Your email address will not be published. Required fields are marked *

  1. HerNameIsNicole August 2, 2014

    He must have trained at the Beyonce school of Management. #Thievery.

    • WhenItComesToBey August 2, 2014

      Oh sis you are too kind, but no. This gentleman would have graduated from the University of Nicole and majored in Fuckery and Floppacity.

    • ansragalocxb August 2, 2014

      .Are you still single ? You are not alone. JOIN FIND Black Men Dating White Women, White men Black Women dating on==

      ♥ BlackMen Dating WhiteWomen(.) o r g ♥

      == Thousands of Black Men, Black Women, White Men and White Women Free Join Here Everyday. This common interest will help make dating easier, more effective, and more successful. Have a try. You are not alone. cvbcvb

  2. The Great Lacefronce. August 2, 2014

    He should have sued Thiefonce for irreplaceable

    • Metzo August 2, 2014

      LOL. Poor Navy

Recommended Posts
.. **