Ne-Yo Suing Citibank For Former Manager's Fraud

8:00 AM EST 1/13/2016 by Rhea Pruto, Celebeat Reporter

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Ne-Yo is planning to sue Citibank for his ex-manager's reported fraud. According to the R&B singer and record producer, Citibank turned a blind eye to his former manager's fraudulent activities.

According to Ne-Yo, Citibank never alerted him of all the times that his former business adviser took money from him without his knowledge. Reportedly, ex-manager Kevin Foster transferred huge amounts almost a hundred of times, but he was never alerted to this. At least $2.4 million were drained from Ne-Yo's accounts as a result in just two years, from 2011 to 2013, according to court papers and as reported by Page Six

Court papers also revealed that shady transactions amounting to $24,910.85 deposit in April 2012 from Ne-Yo's firm, Compound Touring, was made to the ex-manager's accounting group, Foster & Firm. The deposit was made to cover the overdraft in one of the accounts managed by Foster's company, amounting to $16,000. 

Citibank must be held responsible, Ne-Yo's camp said. Court papers said that five months after the shady transactions in April, Citibank did nothing even when it learned that the Compound account was overdrawn by more than $40,000. Because of this inaction, it could be concluded that withdrawals in Foster-managed accounts were to be expected.

Citibank is yet to respond. Foster's camp is yet to react as well. 

Not everything is bad for Ne-Yo these days, despite the fraud. Ne-Yo will be honoured at the 24th Annual Trumpet Awards. Supported by the Trumpet Awards Foundation and the American Family Insurance, the awarding event is designed to honour individuals who dedicated their lives to history-making entertainment, humanitarian activities and philanthropy. Ne-Yo in particular is set to receive "The Visionary Award," Look to the Stars reported.

Ne-Yo is also going to marry fiancée Crystal Renay in a matter of weeks. A photo of their wedding invitation has already been posted on Baller Alert's Instagram page. The invitation showed that the couple will get officially hitched on February 20.

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