Nick Cannon’s Former Business Accountant Allegedly Embezzled $2 Million Before Leaving The U.S.

Federal prosecutors say Frank Musoke is accused of stealing money from a high-profile celebrity client

Nick Cannon’s former business accountant is facing serious federal allegations after prosecutors say he allegedly stole more than $2 million from a celebrity client and then left the United States.

According to reports, Frank Musoke, a former account manager at a high-end Beverly Hills business management and tax firm, has been hit with an 8-count federal indictment. While the indictment reportedly does not name Nick Cannon directly, multiple reports have identified Cannon as the alleged victim.

Moral of the story: hustle until somebody can allegedly embezzle $2M from you and it takes a minute to even notice.

What Prosecutors Are Alleging

Prosecutors allege Musoke used his position to access financial accounts, debit cards, and PINs tied to the celebrity client’s business affairs.

Between December 2019 and June 2023, Musoke allegedly withdrew roughly $1.7 million from ATMs, made more than $165,000 in Amazon purchases, spent nearly $192,000 on personal travel, and racked up more than $160,000 in other personal expenses.

In total, prosecutors say the alleged embezzlement added up to more than $2 million.

The Firm Reportedly Fired Him In 2023

The Beverly Hills firm is identified in court documents only as “Company A”, according to reports. The company allegedly discovered the missing money and fired Musoke in July 2023.

Prosecutors also allege Musoke failed to report more than $1.7 million in allegedly stolen income on federal tax returns between 2021 and 2023.

Wire Fraud And Tax Charges

Musoke is reportedly facing five wire fraud counts and three tax evasion counts.

If convicted, he could face up to 20 years in federal prison for each wire fraud count and up to 5 years for each tax evasion count.

Authorities Believe He Left The Country

Authorities reportedly believe Musoke has fled to Uganda, where he is said to hold dual citizenship with the United States.

The case has people asking the obvious question: how much money do you have to be making for someone to allegedly run off with $2 million before the full picture comes together?

Important Reminder

All charges are allegations. Musoke is presumed innocent unless and until proven guilty in court.

Stay locked in with Hip-Hop Trends for updates as more details become available.