American actor Nick Cannon has allegedly lost more than Sh258 million ($2 million) after his former accountant, Ugandan national Frank Musoke, was accused of stealing the funds and fleeing to Uganda.
Federal prosecutors in the United States have indicted Musoke, accusing him of stealing the money from Cannon while working at a Beverly Hills management and tax firm.
According to TMZ, Musoke allegedly used Cannon’s PINs and payment cards to withdraw cash and make large purchases on Amazon, travel, and other personal expenses. Prosecutors also claim he concealed more than Sh219.3 million ($1.7 million) in illegal income from federal tax returns.
He faces an eight-count indictment, including five counts of wire fraud, each carrying a maximum sentence of 20 years in federal prison, and three counts of tax evasion, each punishable by up to five years.
Authorities believe Musoke fled the United States to Uganda, where he reportedly holds dual Ugandan and American citizenship.
According to TMZ, Musoke allegedly treated Cannon’s finances as a personal source of money while serving as an account manager at a prestigious Beverly Hills business management and tax company that handled wealthy celebrity clients.
Sources cited by the outlet claimed Musoke had direct access to Cannon’s debit cards and security PINs because of his role overseeing the entertainer’s financial and business affairs.
Federal prosecutors allege that between December 2019 and June 2023, Musoke secretly withdrew nearly $1.7 million in cash from ATMs linked to Cannon’s accounts.
Investigators also accuse him of spending more than Sh21.3 million (USD 165,000) on Amazon purchases, close to Sh24.8 million ($192,000) on personal travel expenses, and more than Sh20.6 million (USD 160,000) on other unauthorised transactions.
Authorities say the alleged theft went undetected for years because of Musoke’s trusted position within the company.
Prosecutors claim Cannon, best known for projects including Wild ‘N Out, had been a client of the management firm for nearly two decades.
While court documents reportedly refer to the business only as “Company A,” TMZ reported that the company terminated Musoke’s employment in July 2023 after discovering the missing funds.
In addition to the fraud allegations, prosecutors accuse Musoke of failing to report more than $1.7 million in illegally obtained income on tax returns filed between 2021 and 2023, resulting in three additional tax evasion charges.
Authorities believe Musoke later returned to Uganda. If convicted on all charges, he could face decades in prison under federal sentencing laws.
The Federal Bureau of Investigation has not yet publicly commented on the case.