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.
Neyo and Kingsmen
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
That’s cuz she got ripped off Michelle Daniel after she won American idol
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
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
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…
He can do 15 shows and bounce that right back.
I can’t believe he would lose all that before he noticed something. Sounds like it’s all bad! he can sue him but he won’t see any of that money back. he paid him $3.5 million ver ute years plus the other. $4.5 million that was mismanaged and stolen ??? wow
Has nothing to do with it Bro. He a slave to Hollywood as well as Entertainment! He has no control. You will see him out in movies or back on the chart list soon. If he will offer his soul back on the devils altar. Pray that’s all they take and that he stays clear of whatever they wanted him to do in Jesus Christ Holy Name Amen .
That’s what happen when you don’t pick the right team to watch your back.
Never put your million dollar check in someone else’s box!
That’s what I mean by picking the right team. You must be on the team with JESUS
Exactly my D!!!! Dionna White
Right Rod, also they are dealing with situation totally diff than avg man….got acct firm, managers (some have more 1), public relations firm…..you are authorizing, signing away…….not even sure of all details……smh!
This happens to these folks all the time. Fantasia didn’t know she was broke until she tried to buy a pizza. Financial illiteracy. If I were a performer in the industry my mama would oversee my books. PERIOD. (Queen of budgeting) The lack of interest to monitor your own money is just idiotic to me. You’re overseeing my finances, but I am going to know and understand whether by books are straight or not. I’M RESPONSIBLE FOR THE TAXES.
Andrae Martin he will need a lot more than 15 shows to put a dent in that. Try like 200 shows!
Feel bad for but its a lesson for, watch where its going, dont just assume people will always treat you fairly….he saw all that money and his cut wasnt enough! He wanted it ALL!!!!