BackLAW
Who is Frank Musoke? Ex-account manager accused of stealing over $2M from Nick Cannon, The Masked Singer host
A Beverly Hills firm's former account manager, Frank Musoke, is charged with stealing more than $2 million from a celebrity client, reportedly Nick Cannon. The indictment alleges the theft occurred from December 2019 to June 2023 and includes tax evasion charges; Musoke allegedly filed false returns and then fled. The firm fired him in July 2023 after discovering the missing money.
Why It Matters
This case highlights risks in financial management for high-net-worth clients and the potential for abuse of access to client accounts. It also touches on cross-border flight and the scope of federal charges in entertainment industry wealth management.
Timeline
8 Events
Potential penalties if convicted
May 8, 2026
If convicted, he faces up to 20 years in federal prison for each wire fraud count and up to five years for each tax evasion count.
Authorities say Musoke fled to Uganda
May 8, 2026
Authorities believe Musoke has fled to Uganda, where he reportedly holds dual United States and Ugandan citizenship.
Victim identified as Nick Cannon (report)
May 8, 2026
Sources with direct knowledge told TMZ that the victim named in the indictment is Nick Cannon.
Indictment and charges announced (report date)
May 8, 2026
Prosecutors announced an eight-count indictment against Musoke, including five wire fraud counts and three tax evasion counts, related to the alleged theft of more than $2 million.
Firing and discovery of missing funds (July 2023)
July 2023
The Beverly Hills firm discovered the missing money and fired Musoke in July 2023.
Tax evasion period ends (May 2023)
May 2023
According to the indictment, the false tax returns were filed during the period up to May 2023.
Tax evasion period begins (May 2021)
May 2021
Between May 2021 and May 2023, Musoke filed false federal income tax returns, failing to report approximately $1.76 million in income allegedly stolen.
Indictment identifies theft period as December 2019 to June 2023
December 2019
The indictment states Musoke used his access to a celebrity client's bank accounts to drain funds between December 2019 and June 2023, totaling more than $2 million.