Oh s**t! This is not good!
According to TMZ, Nick Cannon‘s former accountant allegedly embezzled $2 million before fleeing the country — and the Wild ‘n Out host may have been his alleged victim!
Related: Nick Cannon Reveals Dating ‘Double Standard’ He Has For 15-Year-Old Twins!
Sources with direct knowledge told the outlet on Friday that Frank Musoke, a former account manager at a high-end management and tax firm in Beverly Hills, has been accused of siphoning money from Nick for several years. Federal prosecutors recently slapped Musoke with an 8-count indictment, accusing him of leveraging his position managing celebrities’ business and financial affairs. The feds did not name Nick in the docs, to be clear! However, sources claimed to TMZ that the actor is the alleged victim.
The feds claim Musoke had control over the client’s debit cards and PINs due to his position, and he withdrew roughly $1.7 million from ATMs between December 2019 and June 2023. Additionally, he allegedly spent more than $165,000 on Amazon, $192,000 on personal travel, and $160,000 on other miscellaneous personal expenses. Prosecutors alleged Musoke embezzled in total over $2 million from the client without his knowledge or permission.
DAMN!
It is important to note again that the feds haven’t named Nick as the victim yet. However, he has reportedly been a client of Musoke’s firm for nearly 20 years. The firm is also identified as “Company A” in the indictment, and they allegedly fired the accountant in July 2023 after discovering the missing funds.
There’s more! Prosecutors claim Musoke hid over $1.7 million in allegedly stolen income on federal tax returns filed between 2021 and 2023. So, he has been hit with three tax evasion charges and five counts of wire fraud. If convicted, he faces up to 20 years in federal prison for each wire fraud charge, and up to five years for each tax evasion charge.
Unfortunately, there is a slight problem here! The authorities think Musoke fled to Uganda, where he reportedly has dual citizenship with the United States! Uh oh!
At this time, Nick hasn’t addressed the allegations against Musoke. Reactions, Perezcious readers? Tell us in the comments (below)!
[Image via MEGA/WENN]
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