Federal prosecutors have accused a former money manager tied to Nick Cannon of stealing more than $2 million from the entertainer over several years, TMZ reports.
Frank Musoke, 39, was charged in an eight-count federal indictment alleging he used his position at a Beverly Hills business management and tax firm to siphon money from a celebrity client identified only as “Client Victim-1.” Sources familiar with the case told TMZ the alleged victim is Cannon.
Prosecutors allege Musoke abused his access to Cannon’s financial accounts between December 2019 and June 2023 while handling business and financial matters for high-profile clients.
According to the indictment, Musoke allegedly used Cannon’s debit cards and PIN numbers to withdraw approximately $1.7 million from ATMs. Federal authorities also accuse him of spending more than $165,000 on Amazon purchases, nearly $192,000 on personal travel expenses, and another $160,000 on miscellaneous personal spending.
In total, prosecutors allege Musoke embezzled more than $2 million without Cannon’s knowledge or permission.
Cannon, 45, is a television host, actor, comedian, and producer best known for creating and hosting the MTV improv comedy series “Wild ‘N Out.” He has also hosted shows including “The Masked Singer” and “America’s Got Talent” and has remained a prominent figure in television and radio for more than two decades.
Authorities said Musoke worked as an account manager at what the indictment identifies only as “Company A,” described as a high-end Beverly Hills management and tax firm serving wealthy celebrity clients. TMZ reported Cannon had reportedly been a client of the firm for nearly 20 years.
According to prosecutors, the firm terminated Musoke in July 2023 after discovering the alleged missing funds.
Federal authorities also accuse Musoke of concealing more than $1.7 million in allegedly stolen income on tax returns filed between 2021 and 2023. The allegations resulted in three tax evasion charges in addition to five wire fraud counts.
Investigators believe Musoke fled to Uganda, where authorities say he holds dual Ugandan and U.S. citizenship.
If convicted, Musoke faces up to 20 years in federal prison for each wire fraud charge and up to five years for each tax evasion charge.
Click here to read the full report from TMZ.
