It looks like Nick Cannon was being played by the very person hired to protect his assets.
Federal prosecutors have officially indicted Frank Musoke, a former account manager at a Beverly Hills firm, for allegedly treating Nick’s hard-earned cash like a personal piggy bank.
For nearly 20 years, Nick was a client at this firm, but the trust was shattered when Musoke reportedly started siphoning funds. According to the feds, Musoke used his position to get his hands on Nick’s debit cards and PINs. From late 2019 through mid-2023, he allegedly drained roughly $1.7M just from ATM withdrawals.
The spending spree didn’t stop at the ATM. The indictment claims Musoke dropped over $165K on Amazon, nearly $192K on private travel, and another $160K on random personal bills, all on Nick’s dime. In total, more than $2M was snatched right under Nick’s nose without him ever giving the green light.
The firm eventually smelled a rat and fired Musoke in July 2023 after finding the missing millions, but the damage was done. On top of the 5 counts of wire fraud, the feds tacked on 3 counts of tax evasion because Musoke allegedly tried to hide that $1.7M in stolen “income” from the IRS.
According to reports, Musoke has fled the US and is currently in the wind. Authorities think he dipped to Uganda, where he holds dual citizenship. If he ever sees the inside of a courtroom and gets convicted, he’s facing up to 20 years for each fraud charge.
It’s a cold lesson in why you have to keep a close eye on the people keeping your books.
