We just got word that a former business manager for R&B singers Ne-Yo and Brian Mcknight has been sentenced to 7 years in prison.
According to reports, Ne-Yo and Brian Mcknight former business manager was defrauding the stars. Read on for more tea on Ne-Yo’s Ex-Business Manager…
CelebNMusic247.com reports that former business manager Kevin Foster was convicted on 16 criminal counts, including wire fraud, money laundering, bankruptcy fraud, and tax evasion in Ohio last summer.
It was revealed that Kevin Foster‘s conviction came after he convinced Ne-Yo to pour $2 million into launching a new sports drink called OXYwater. He left out that he was personally involved in the brand.
Foster also used another $1.5 million of the hitmaker’s money to support his venture, without the musician’s knowledge.
Then, Foster was accused of earning Brian McKnight‘s trust and withdrew money from his account without permission. He was using the funds to enjoy a lavish lifestyle, including hiring a personal chauffeur and buying designer suits and jewelry, season tickets to his favorite New York sports teams, and even tickets to the Super Bowl. Just a few things via AHH.
On Friday, he returned to court where he was ordered to serve 89 months in prison and pay over $7.9 million in restitution to his victims.
This is good news for singer Ne-Yo, who filed a civil suit against Foster in 2014, accusing him of withdrawing $4.5 million from his bank account without authorization between 2011 and 2013.
Ne-Yo was only aware that he lost millions after he hired new advisers to oversee his finances after Citibank officials claimed he had failed to make payments on a loan the singer insisted he never signed off on.
Ne-Yo’s case was dismissed by a judge in 2016, due to a lack of supporting evidence.