Lonzo Ball has severed ties with Big Baller Brand over concerns for the whereabouts of approximately $1.5 million from his personal and business accounts.

Ball believes that Alan Foster, a friend of Lonzo's father for almost a decade who owns 16.3 percent of Big Baller Brand, had "used his access to my business and personal finances to enrich himself. As a result, I have decided to sever all ties with Alan, effective immediately."

It was Foster, Lonzo's father, LaVar Ball, has said, who helped convince him to create a shoe and apparel company.

Lonzo expressed his concerns about Foster to his father several times over the past few months but deferred to LaVar to manage the situation.

LaVar was "stunned" when the emails and documents were read to him. LaVar declined comment but issued a statement to ESPN calling the situation "devastating."

"I've always believed in the best in people. Regretfully, I put my complete trust in Alan Foster to manage my son's business affairs," LaVar said. "At the end of the day, family comes first, and I support Zo wholeheartedly. Together, we will make this right."