R&B singer Ne-Yo is suing a former manager for $8 million, claiming that he was swindled out of $4.5 million from a fake company, in addition to another $3.5 million from other fees.
The singer, who recently released a single about what “Money Can’t Buy,” claims that Kevin Foster was his “manager, confidant, trusted adviser and friend” in the lawsuit filed in Manhattan Superior Court, reports the New York Daily News. Foster and Ne-Yo, whose real name is Shaffer Smith, met in 2005 and Foster got Ne-Yo to let him handle all of his “business management and accounting needs” through the accounting company he worked for at the time.
Foster then left the company to create his own. Ne-Yo followed. They “developed a personal relationship, with Smith eventually placing complete trust in Foster's handling Smith and his companies' finances and affairs.”
Somehow, Ne-Yo discovered that this was a bad idea when he found that Foster moved his money without his permission. At that point, the “Sexy Love” singer hired another accounting firm, which looked into Foster and found that he had been using the singer’s money for “self-dealing and inappropriate conduct.” That included even forging Ne-Yo’s name on a loan form.
Ne-Yo is looking to get back the $4.5 million Foster was moving through the company, in addition to another $3.5 million that Ne-Yo paid Foster for other fees.
According to the Associated Press, Ne-Yo has not offered a statement on the suit. The Daily News did try to reach Foster, but his firm’s phone was out of order.
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