Accounting firm BDO lost celebrity clients, including Jay-Z and Megan Thee Stallion after allegations of fraud affecting customer accounts.
A report from the Financial Times confirms that Jay-Z and Megan Thee Stallion are among the celebrities who have cut ties with accounting firm BDO’s Miami operation following allegations in 2022 that a staff member was stealing money from client accounts. The firm manages personal and business finances on behalf of celebrities and other wealthy clients, with services ranging from paying bills to filing taxes.
According to the report, Jay-Z’s departure stems from displeasure over the way BDO handled the fraud allegations in 2022, wherein a staff member stole funds from rapper Fat Joe, and partners failed to spot inconsistencies in his financial records at the time. The staff member, named Vanessa Rodriguez, is said to have used credit cards and bank accounts belonging to Fat Joe, his wife, and his businesses to withdraw thousands of dollars in cash.
Fat Joe, whose legal name is Joseph Cartagena, claimed BDO’s management of his affairs was “so chaotic” that his mortgage payments were often late. Further, he says it was impossible to reconcile different accounts, and it seemed his credit card bills were sometimes paid from accounts belonging to other celebrity clientele, such as Major League Baseball players.
Vanessa Rodriguez was indicted last month in Miami on four counts of fraud. She was accused of spending money on lines of credit that did not belong to her, but many details of the charges have remained under seal.
BDO has refuted the allegations against it in Fat Joe’s lawsuit, which was settled on undisclosed terms earlier this year. But that lawsuit and the details it contained have had wider reaching repercussions for the accounting firm, leading to the departure of several high-profile clients. Employees working for Jay-Z felt slighted at how BDO responded to accusations from Fat Joe, who is a client of Jay-Z’s Roc Nation. Ultimately, that led to Jay-Z’s departure as a client of BDO, having left in 2023 — within months of Fat Joe’s departure.
Megan Thee Stallion is also said to have left BDO over the allegations, having departed as their client in 2022. BDO told Financial Times that the firm “does not comment on pending litigation or matters related to current or former clients.”
News
Megan Thee Stallion‘s Documentary To Be Released On Prime Video
Megan Thee Stallion’s upcoming docuseries In Her Words now has an official release date and streaming home. In an announcement released on Monday (September 30), the documentary which centers on the life and times of “Hot Girl Meg’s” humble beginnings in Houston to…
Prince Harry wants to be ‘prince of the people’ sans Meghan Markle
Prince Harry is making multiple trips without wife Meghan Markle. Prince Harry recently took a New York City trip without Meghan Markle, and an expert believes it’s a tactic to make the public love him again. Harry was in N.Y.C….
Prince Harry and Meghan Markle dealt fresh blow as American media turns on couple
Prince Harry and Meghan Markle face renewed backlash as American media turns critical, overshadowing their latest public efforts. Prince Harry and Meghan Markle have been dealt a fresh blow as the American media turns on them Prince Harry and Meghan Markle have faced…
Royal expert weighs in on Prince Harry, Meghan Markle’s ‘trouble in paradise’
Prince Harry sparked Meghan Markle strained marriage rumours after solo appearances. A royal expert has shared their two cents on why Prince Harry has been carrying out solo engagements without Meghan Markle after the Duke arrived in UK. According to…
Princess Anne’s bombshell prediction about Meghan Markle that came true revealed
The Princess Royal has been in the business long enough to know who can hack the pressures of royal life. The Princess Royal had some words of advice for the royal When Prince Harry and Meghan Markle gave up their royal duties in 2020,…
Prince William, Kate Middleton move Meghan Markle to tears with big move
The Prince and Princess of Wales seemingly put Meghan Markle’s future plans at risk. Prince William and Princess Kate gave new tensions to Meghan Markle with a surprising decision. For the unversed, the Prince and Princess of Wales have reportedly…
End of content
No more pages to load