(EXCLUSIVE) Ne Yo’s Ex-Business Manager Blasts Singer’s $4.5 Mill Lawsuit Accusing Him of Fraud

According to the filed docs, Foster was expected to manager the singers money and ensure he

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.

He accused his ex-manager of swindling him out of millions and sued for over 8 million which was 4.5 million dollars he moved out of his bank accounts and an additional 3.5 million in fees he had paid him over the years.

On February 17th, Foster fired back at his ex-client Ne-Yo’s lawsuit. He explained that the singer signed a deal with Vernon & Co. to manager his finances and pay them 5% commission on gross revenues.

Foster says his position was to handle some of Ne-Yo’s finances and business transactions — including advising him on investments, but he denies he was suppose to maintain the singers budget to ensure he was financially situated as to maintain his accustomed lifestyle for the remainder of his life.

He explains that while he did have control of Ne-Yo’s bank accounts, he never committed fraud, failed to file his tax returns, make inappropriate transfers to himself from the singers bank accounts nor did he forge bank documents to take out a loan in his name.

Foster is demanding the lawsuit be dismissed, saying any decision he made with Ne-Yo’s money was legal because the singer granted him that power to manage his finances.

He also says that Ne-Yo is the one who breached their agreement NOT him and thus he says he doesn’t own him. See the court docs.

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