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Big Baller Brand Co-Founder Getting Investigated By The FBI

LaVar Ball signing autographs for fans.

LAS VEGAS, NV - JULY 07: LaVar Ball, father of Lonzo Ball #2 of the Los Angeles Lakers, jokes with fans at halftime of a 2017 Summer League game between the Lakers and the Los Angeles Clippers at the Thomas & Mack Center on July 7, 2017 in Las Vegas, Nevada. The Clippers won 96-93 in overtime. (Photo by Ethan Miller/Getty Images)

Gregory Alan Foster, the co-founder of Big Baller Brand who's been accused of embezzling more than $2 million from the Ball family, is now under investigation by the FBI.

The Los Angeles Times reported late on Tuesday night that the former close friend of LaVar Ball is now under investigation for fraud.

Foster, who previously served time in prison for taking part in a scheme for depriving investors of millions of dollars, was removed from his Big Baller Brand role in March.

The Los Angeles Times had more details:

Foster was co-founder of Big Baller Brand, an apparel company launched in part by Lonzo’s father, LaVar, who sought to capitalize on the fame his three sons generated while playing for Chino Hills High.

Authorities say the investigation is focused on allegations included in a lawsuit filed in Los Angeles County Superior Court this month by Lonzo Ball and Big Baller Brand. The suit alleges Foster took more than $1.5 million out of the company’s bank accounts and accepted “substantial undisclosed referral fees” from at least eight loans he arranged on behalf of the company.

Foster, who owns 16.3% of Big Baller Brand, was removed as a manager of the company in March, according to the lawsuit.

Lonzo Ball spoke earlier this season about how disappointing the situation was.

“Obviously, it hurt me just because of a lot of stuff I’ve been through with him,” Lonzo Ball said. “A lot of decisions he made on my behalf and stuff. So it hurt. It hurt a lot. Known him since I was like 12, so kind of hit me. But you know I’m over it now. Just trying to stay positive and move on to bigger and better.”

Details of the situation first surfaced in an ESPN report in late March.

Lonzo Ball has since distanced himself from Big Baller Brand, getting his BBB tattoo covered up.