NeYo is going to recoup the millions of dollars he lost at the hands of his ex-manager. A judge has ordered Kevin Foster, the former business manager of NeYo and Brian McKnight, to pay restitution to the singers after defrauding the celebrities.
Ne-Yo has been awarded $6,456,250 while McKnight will receive $151,675. Foster will also have to pay $1.4 million to the IRS.
Officials in the U.S. District Court for the Southern District of Ohio say Foster convinced NeYo to invest $2 million in a sports drink called OXYwater under “false pretences.”
Foster invested an additional $1.5 million without NeYo’s knowledge and forged the Motown artist’s signature to establish $1.4 million in lines of credit.
Foster was convicted on multiple charges, including money laundering, wire fraud, bankruptcy fraud, tax evasion and filing false tax returns. Earlier this month, an Ohio judge sentenced him to over seven years in prison.
By Damilola Faustino
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