New York Post

January 11, 2016

by Lia Eustachewich

“The Wiz Live!” star Ne-Yo is blaming Citibank for turning a blind eye to his ex-manager’s alleged fraud, in which he drained at least $2.4 million from the crooner’s accounts between 2011 and 2013, court papers say.

Ne-Yo says in a countersuit against the bank that it never alerted him to the hundreds of times his former business adviser Kevin Foster allegedly transferred huge amounts.

Shady transactions — including a $24,910.85 deposit in April 2012 from Ne-Yo’s company, Compound Touring, to Foster’s accounting group, Foster & Firm, to cover a $16,000 overdraft in a Foster-managed account — were detailed in court papers last week.

Five months later, Citibank did nothing after learning the Compound account was overdrawn by more than $40,000, concluding that such withdrawals in Foster-managed accounts “were to be expected,” court papers say.

Citibank “will be held accountable,” said Ne-Yo’s lawyer Richard A. Roth.

Citibank and Foster’s lawyers didn’t respond.

Citibank earlier sued Ne-Yo over a $1.4 million loan for which he says he never signed.

He subsequently sued Foster, saying he owes him $8 million. Both cases are pending.

 

Ne-Yo blames Citibank for ex-manager’s alleged fraud

“The Wiz Live!” star Ne-Yo is blaming Citibank for turning a blind eye to his ex-manager’s alleged fraud, in which he drained at least $2.4 million from the crooner’s accounts between 2011 and 2013, court papers say.

 

Read on nypost.com

Distinctions