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Ne-Yo swindled out of $4.5M by manager

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Photo Credit: Kingsmen Media

In papers filed in Manhattan Federal Court, Shaffer Smith – aka Ne-Yo – says his “manager, confidant, trusted adviser and friend” Kevin Foster swindled him out of $4.5 million.

The “Sexy Love” singer says he was first introduced to Foster back in 2005, and Foster convinced him to let the accounting company he was then working for “handle all of Smith’s business management and accounting needs.”

Foster’s job was to manage the star’s bank accounts, “ensure Smith was financially situated as to maintain his accustomed lifestyle for the remainder of his life, protect Smith from financial ruin, and mitigate risk of frivolous spending.”

The suit seeks the return of the $4.5 million – plus the $3.5 million in fees Ne-Yo paid Foster over the years.

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Neyo and Kingsmen

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16 thoughts on “Ne-Yo swindled out of $4.5M by manager

  1. That’s crazy!!!! I guess when u from no money to a lot of money people think it manage itself smh I remember Oprah telling her that… they said Rihanna was in the same situation smh crazy y

  2. They need to take a page out of Oprah book.. when Fantasia was on her show she told her she was the only one who opens her mail she is the only one who pay and write the checks for all her bills she knows everything that’s coming in and going out! Sounds fair to me

  3. They need to take a page out of Oprah book.. when Fantasia was on her show she told her she was the only one who opens her mail she is the only one who pay and write the checks for all her bills she knows everything that’s coming in and going out! Sounds fair to me

  4. This is a touchy subject with a double standard because you can be with the same people that were with you before money and fame when you had 2 pennies to rub together and when the money comes, it changes you or them…You just have to educate yourself on this business as much as possible and monitor what you can. Yes you will need help, but you have to keep a close eye on everything and that task can be difficult…

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