Ugandan accountant embezzles Shs8 billion from Nick Cannon

• Frank Musoke, a former account manager, is accused of embezzling over 8 billion UGX from Nick Cannon.

• Musoke allegedly used his access to Cannon’s bank account to make unauthorized withdrawals and purchases.

• After being fired in 2023, Musoke is accused of hiding stolen income on tax returns, leading to additional charges.

• Musoke is believed to have fled to Uganda and faces up to 20 years in prison if convicted.

Frank Musoke, a former money manager for high-profile clients, is accused of embezzling $2 million (about Shs8 billion) from American entertainer Nick Cannon.

Musoke, a Ugandan national, worked as an account manager at a top Beverly Hills firm, which handles the financial and business affairs of elite celebrities.

According to federal prosecutors, Musoke exploited his position to steal from Cannon over a period of nearly four years, from December 2019 to June 2023.

The indictment claims Musoke used his access to Cannon’s bank account to withdraw approximately 6.5 billion UGX from ATMs, spending another 600 million UGX on personal purchases, including luxury travel and Amazon shopping.

In total, Musoke allegedly stole over 8 billion UGX from the entertainer without his knowledge or consent. The management firm, referred to as “Company A” in the indictment, dismissed Musoke in July 2023 after the missing funds were discovered.

Prosecutors also accuse Musoke of tax evasion, alleging he concealed the stolen income on federal tax returns filed between 2021 and 2023, which has led to three charges of tax fraud in addition to five wire fraud charges.

Authorities believe Musoke fled to Uganda, where he holds dual citizenship with the United States. If convicted, he faces a maximum of 20 years in prison for each wire fraud charge and up to five years for each tax evasion charge.