Nick Cannon’s Former Business Manager Charged With Stealing $2 Million

Nick Cannon is reportedly involved in a significant financial fraud case as federal prosecutors have accused his former business manager of embezzling over $2 million from him over several years.

As first reported by TMZ, prosecutors have filed an eight-count indictment against Frank Musoke, a former account manager at a Beverly Hills financial management and tax firm that catered to affluent celebrity clients. Although court documents do not explicitly name Cannon, sources have indicated to TMZ that he is the alleged victim in this case.

Federal authorities assert that Musoke had access to Cannon’s financial accounts, debit cards, and PIN numbers due to his role at the company. Prosecutors allege that he secretly utilized this access from late 2019 to mid-2023 to divert funds for personal use without Cannon’s awareness.

Investigators claim Musoke withdrew approximately $1.7 million from ATMs during this period. Additionally, they allege he spent over $165,000 on Amazon purchases, nearly $192,000 on personal travel, and more than $160,000 on other personal expenses.

According to prosecutors, the alleged fraud came to light in July 2023 when the financial firm noticed discrepancies in the accounts and subsequently terminated Musoke. Authorities also accuse him of concealing more than $1.7 million in income on federal tax returns filed between 2021 and 2023, leading to tax evasion charges alongside the wire fraud accusations.

Reports suggest that Musoke is believed to have fled the United States and may currently be in Uganda, where he reportedly holds dual citizenship. If found guilty, he could face decades in prison, including up to 20 years for each wire fraud charge.

TMZ has also reported that Cannon had been a client of the management company for nearly two decades. So far, Cannon’s representatives have not publicly commented on the situation. The Federal Bureau of Investigation has also declined to comment, according to the outlet.

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