Recording artists Jay-Z and Megan Thee Stallion have exited BDO USA, according to the Financial Times, following a lawsuit filed by rapper Fat Joe alleging that the Top 10 Firm lost him thousands of dollars when a former employee mishandled his funds.
The lawsuit, filed in 2022, accused former employee Vanessa Rodriguez of using the rapper's and his wife's personal and business accounts and credit cards to withdraw thousands of dollars in cash, and a source familiar with the situation
BDO denied the claim to the Financial Times. "BDO USA does not comment on pending litigation or matters related to current or former clients," the firm said in a statement to Accounting Today when asked for comment.
According to the Financial Times, Fat Joe's allegations prompted Jay-Z to leave the firm in 2023 while similar concerns with Rodriguez caused Megan Thee Stallion to depart in 2022.
The lawsuit, which was settled on undisclosed terms earlier this year, also alleged that BDO's management was disorganized, with Fat Joe's mortgage payments frequently late, and that it seemed his credit card bills were sometimes being paid from accounts belonging to other celebrity clients, including Major League Baseball players.
Rodriguez was indicted in Miami on four counts of fraud last month, accused of making unauthorized charges on credit cards that did not belong to her, though the details of the charges and the two alleged victims remain sealed as Rodriguez plans to plead not guilty. She also denied the accusations made against her in Fat Joe's lawsuit.
