Nick Cannon’s Former Account Manager Frank Musoke Accused Of $2 Million Fraud

A major financial scandal is making waves in Hollywood after federal authorities accused a former celebrity account manager of allegedly siphoning off millions from one of television’s biggest personalities. The man at the centre of the case is Frank Musoke, a former Beverly Hills financial manager who prosecutors say used his insider access to quietly fund a lavish lifestyle.

Frank Musoke, 38, previously lived in Woodland Hills, California, and worked for a Beverly Hills business management and tax company identified in court records only as “Company A.” According to the US Attorney’s Office, the firm specialised in handling finances for wealthy entertainment industry clients, including celebrities.

Musoke’s role reportedly involved overseeing

the complete financial affairs of elite clients — everything from investment strategies to asset protection and financial planning. That position also gave him access to sensitive financial information, including bank accounts, debit cards and PIN numbers.

Federal prosecutors now allege that Musoke misused that access over several years. According to the indictment, he allegedly stole more than $2 million from a celebrity client between December 2019 and June 2023 without the person’s knowledge or consent.

Authorities claim Musoke withdrew nearly $1.73 million through ATM transactions alone. Prosecutors also alleged he spent $165,270 on Amazon purchases, another $191,543 on personal travel and more than $160,000 on other personal expenses.

While court documents refer to the alleged victim only as “Individual A,” described as a well-known television host and producer, sources cited by TMZ claimed the person involved is Nick Cannon, known for shows like The Masked Singer and Wild ‘N Out.

According to reports by TMZ and Patch, the company eventually discovered the alleged missing funds and fired Musoke in July 2023.

But the legal trouble did not stop there. Prosecutors further alleged that between May 2021 and May 2023, Musoke filed false federal tax returns and failed to report nearly $1.76 million in allegedly stolen income. That led to three additional tax evasion charges being added to the case, along with five wire fraud counts.

In total, Musoke now faces an eight-count federal indictment.

Authorities also believe he may no longer be in the United States. According to the US Attorney’s Office, cited by TMZ, Musoke is believed to have fled to Uganda and reportedly holds dual citizenship in both Uganda and the US.

If convicted, Musoke could face up to 20 years in prison for each wire fraud charge, along with up to five years for every tax evasion count, according to Patch.