Ne-Yo Sues Former Manager for $8 Million
Trisha Cerdena | | Aug 01, 2014 04:25 PM EDT |
R&B singer-songwriter Ne-Yo is suing his former manager Kevin Foster for $8 million, for instances of "self-dealing and inapppropriate conduct."
The Grammy-Award winning artist filed a lawsuit against Foster in a Manhattan federal court claiming that he learned about instances of Foster's unprofessional dealings, and alleging that he was swindled out of $4.5 million by his own "manager, confidant, trusted adviser and friend," as described in papers presented to court.
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According to New York Daily News, quoting court documents, the 31-year-old singer allowed the accounting company where Foster was working to handle his "business management and accounting needs." He also ensured that he "was financially situated as to maintain his accustomed lifestyle for the remainder of his life."
After some time, Foster left the company to establish his own firm with Ne-Yo accompanying and supporting him. With a more "personal relationship," Ne-Yo entrusted his finances and affairs to Foster.
However, the "Closer" singer later learned that Foster moved a certain amount of his money without permission.
Hiring a new accountancy company, Ne-Yo discovered instances of Foster forging his name on loan documents. Foster had also invested a large amount of the singer's money into a water company that was going bankruptm, with the singer not knowing that he, Foster, was the president and CFO of the firm.
Ne-Yo's lawsuit is now seeking the return of $4.5 million along with the $3.5 million fees that the singer paid Foster since they began working with each other in 2005.
According to The Daily News, Foster's firm was out of reach with its phone number being out of service.
Representatives of Ne-Yo, whose real name is Shaffer Smith, have not responded to an email seeking comment.
Aside from singing his own smash hits, such as "So Sick,", "Let Me Love You," and "Lazy Love," Ne-Yo has also written songs for Beyonce Knowles and Rihanna.
TagsNe-Yo, Kevin Foster
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