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Friday, August 1, 2014

Ne-Yo Suing Ex-Manager And 'Trusted Confidant' For $8 Million


Grammy winner Ne-Yo wants $8 million from his ex-manager.

The Daily News reports that the 31-year-old R&B singer-songwriter, real name
Shaffer Smith, has sued one-time manager Kevin Foster in Manhattan federal
court.

Foster started handling Ne-Yo's finances in 2005 and was described in court
papers as 'manager, confidant, trusted adviser and friend.'

Foster's job was to manage the star's bank accounts, 'ensure Smith was
financially situated as to maintain his accustomed lifestyle for the remainder of
his life, protect Smith from financial ruin, and mitigate risk of frivolous spending.'

Ne-Yo recently found out his trust was misplaced as the lawsuit says Foster moved some of Ne-Yo's money without permission.

It also alleges that Foster faked Ne-Yo's name on loan documents and invested Ne-Yo's money in a water company that was teetering on the edge of bankruptcy.

The lawsuit seeks $4.5 million plus $3.5 million in fees that Ne-Yo, 34, says he paid Foster. The Daily News has reported that a phone number for Foster's firm was out of service.

His representative didn't return an email seeking comment Thursday.