Ne-Yo’s books appear to be off by some $4.5 million after his manager, he claims, ripped him off.
The singer, real name Shaffer Smith, let a business relationship that began in 2005 become a personal relationship with Kevin Foster, which ultimately turned out to be misplaced trust, with the singer reportedly swindled out of millions of dollars.
As a result, Ne-Yo is suing, with papers filed in Manhattan Federal Court.
The paper says a third party hired by the singer “uncovered instances of Foster engaging in self-dealing and inappropriate conduct, including forging his signature on loan documents”.Foster also reportedly sank Ne-Yo’s money into a failing water company for which Foster was the CFO.
According to documents filed, Ne-Yo had already known that Foster had moved some of his money without permission, and when another accounting firm was hired, more instances of wrongdoing were uncovered.
As part of the lawsuit, the singer is seeking the reported $4.5 million, plus an additional $3.5 million that were paid to Foster in fees.
I always sign my own checks- Oprah Winfrey
One day these entertainers will pick up what she put down. Besides it must work we have never heard about somebody robbing Oprah.
I agree. Say what you’d like about Ms. Winfrey. Long story (we all have 1). Very SUCCESSFUL BLACK WOMAN. F the $. We need her in our homes…still.
he’s gonna out neyo in 5….4…3…2….
Ne-Yo is a WALKING outing. You know it’s bad when even failed rapper/Industry punching bag Young Berg can clown & out you with no recourse.
Wow….where was I? Do tell Raheim…
http://www.youtube.com/watch?v=0HKv5CVfoi8
^Basically, Ne-Yo called Yung Berg an ‘unoriginal’ rapper or something to that effect, to which Yung Berg responded by clowning him and showing all the ‘Homies Over Hoes’ gay-ass pics Ne-Yo has taken over the years. It was a short-lived beef…Well, at least shorter than the TOUR Yung Berg’s chain has taken since he was robbed of it some months prior:
http://www.complex.com/music/2011/10/hip-hops-50-worst-photo-fails/everyone-and-their-mother-wearing-yung-bergs-stolen-transformers-chain
Scroll down the page to #7, read, and laugh at the failure.
^Forgot to add all this took place in 2007-early 2008.
this is the same sellout n1gga who was holding hands with hayden panettiere!! back in 2008 rumor has it back then
they were dating. but hayden is in her early 20’s (but she looks old) so neyo was dating a under aged girl!!???
If you are going to allow your friends to do you books ensure they are cpa and pmp certified.
Early in OPRAHS career, Quincy Jones and Bill Croaby told her to always sign your own checks..then you know where your money is going
ARTISTS these days wont and dont listsn. ELDERS Try to tell em. They dont listen.
I feel you but if they are forging your signature you have no knowledge those checks ever existed… I try to tell people all the time that once you get to a certain level of wealth 50 60 70 100 million that type of money is very hard to trick off and go broke. Buying cars making it rain at the strip clubs and buying stoopid stuff will only eat up the interest off of that type of money… The hardest part of having that kinda money is keeping that kinda money away from the vulture con men and accountants. The people telling them they can get them 50 60 150 % on their money and its usaually someone who has gotten themselves close to these people and are trusted once thats done its a wrap they gettem. Alot of these rich peoples down fall is that they are too greedy…
Black celebs are so f*cking dumb. Every time you look around one of them is crying about how they got played for their money. Seems to me with all of them getting played so much they would learn from each other.
I read this again but then saw “became a personal relationship”? Jackie, tell us more. Raheim, thank you for the information!