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Fat Joe files lawsuit against accounting firm over alleged Ponzi scheme

Mr. Nimbus | 10/02/2022

Fat Joe has filed a complaint against executives at his longtime accounting firm over an alleged Ponzi scheme.

According to court documents obtained by TMZ, the All The Way Up rapper has claimed that bosses at tax company BDO, accountant Andre N Chammas, and his assistant Vanessa Rodriguez, have defrauded him.

In the documents, the rapper – whose real name is Joseph Antonio Cartagena – reported noticing financial irregularities in July after Rodriguez was fired. These included that his wife Lorena’s name was used to open a credit card account and make over $40,000 (£35,870) in unauthorised purchases.

Cartagena also alleged that his Sneaker Addict Touring entity was missing $300,000 (£269,000) in deposits, and other entities suffered from similar “irregularities”.

When he tried to discuss the issue, executives at BDO allegedly “ignored his pleas or made up stories to cover their trail”.

Though Cartagena is the only plaintiff in the case, his suit alleges that Colorado Rockies player Jose Iglesias, Houston Astros player Luis Garcia, and former Chicago White Sox player Dayan Viciedo were also victims. In addition, the suit claims accountancy firm bosses were running a Ponzi scheme, with money flowing through credit card accounts in all of their names.

The music mogul’s legal team concluded in their filing, “The bottom line is that, by executing and reaping the benefits of their money-making scheme, BDO and Chammas have committed malpractice and professional negligence, breached the fiduciary duties they owe to Plaintiffs, misappropriated millions of dollars, defrauded Plaintiffs, and been unjustly enriched.”

Representatives for BDO have not yet responded to the allegations.

This post was originally published on this site

Written by Mr. Nimbus




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