AceShowbiz - Nick Cannon recently discovered that his former business accountant allegedly embezzled over $2 million from his financial accounts over several years.

Federal authorities have charged Frank Musoke, 38, with multiple counts including five counts of wire fraud and three counts of tax evasion. Musoke is accused of illegally accessing Nick Cannon's bank accounts and using his debit cards without authorization to make large withdrawals and purchases.

Musoke was employed as an account manager at a prestigious Beverly Hills business management and tax firm that serviced high-profile entertainment clients, including Nick Cannon. He reportedly had full access to Cannon's debit cards, PINs, and financial records, which allowed him to carry out the theft undetected for nearly four years.

According to prosecutors, between December 2019 and June 2023, Musoke withdrew approximately $1.7 million from ATMs using Cannon's cards. In addition, he allegedly spent $165,270 on Amazon orders, charged nearly $192,000 for personal travel, and racked up more than $160,000 on other personal expenses.

Nick Cannon had been a client of the firm for almost 20 years before the fraud was uncovered. The company terminated Musoke’s employment in July 2023 after discovering the missing funds, but by then the financial damage was extensive.

Federal prosecutors also allege that between May 2021 and May 2023, Musoke filed false federal income tax returns, failing to report about $1.7 million in stolen income. This has led to additional tax evasion charges against him.

It is believed that Musoke fled to Uganda, where he holds dual citizenship with the United States. If convicted on all charges, he faces up to 20 years in federal prison for each count of wire fraud and up to five years for each tax evasion charge.

So far, Nick Cannon's representatives have not issued any public statements regarding the case.