Fat Joe Sues Accountants For Losing Over $300K In Ponzi Scheme

Fat Joe is a well-known New York City rapper, thus his opinions carry some weight. Joe has often been embroiled in legal battles. However, this time he is embroiled in a legal struggle with his own accountant.

Fat Joe has accused his accountant of misappropriating funds in his and his wife’s names. To cover his tracks, he used the accounts of multiple MLB players. Joe stated that after his long-time CPA, Andre N. Chammas, fired his assistant Vanessa Rodriguez, he noticed several irregularities in the way Chammas’ firm, BDO, handled his business accounts.

According to TMZ, he discovered several AMEX accounts opened in his wife Lorena Cartagena’s name without the couple’s knowledge. The credit cards were used for a variety of large purchases, including tuition for Rodriguez’s daughter and $40,000 in combined Uber and Uber Eats expenses. Joe alleges that after further investigation, he discovered that some of his business entities were missing large deposits.

Sneaker Addict Touring, one of his companies, was shorted out of more than $300,000. He also said that the company attempted to cover up its mismanagement of funds. He claimed that they did it by running a Ponzi scheme using Colorado Rockies, Houston Astros, and Chicago White Sox players.

According to the lawsuit, AMEX accounts were opened in the names of MLB players. The list included, Jose Iglesias, Luis Garcia, and Dayan Viciedo. These accounts were then used to transfer funds from one BDO client’s account to another, allowing the accounting firm to operate without using cash.

This isn’t the first time the Terror Squad leader has found himself in legal trouble because of an accountant. The rapper pleaded guilty to tax evasion in 2012 after failing to pay around $700,000 in income taxes for the years 2007 and 2008. Let’s see how he manages to get out of this situation. To get the latest updates, keep an eye on Thirsty.

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