A former account manager at a high-end Beverly Hills business management and tax firm was charged Wednesday with embezzling more than $2 million from one of the outfit’s celebrity clients.
Frank Musoke, 38, formerly of Woodland Hills, is believed to have fled to Uganda, where he has dual citizenship with the United States, according to the U.S. Attorney’s Office.
Musoke is charged in LA federal court with five counts of wire fraud and three counts of tax evasion.
According to the indictment, Musoke was employed as an account manager at a full-service business management and tax firm identified in court documents as “Company A.” The firm primarily served high-net-worth celebrities in the entertainment industry.
Musoke was entrusted with managing the complete financial and business affairs of an elite clientele. In his job, he was to help clients with asset protection, investment strategies and financial planning to help them preserve and grow their wealth.
Prosecutors said the victim, identified in the indictment only as “Individual A,” is a well-known television host and producer and had been a client of the firm for nearly 20 years. Musoke was the client’s account manager and had full access to the person’s financial accounts, including control of his debit cards, federal prosecutors stated.
From December 2019 to June 2023, Musoke gained unauthorized access to debit cards and the associated personal identification numbers connected to the celebrity’s business bank account. Without the client’s knowledge or consent, Musoke fraudulently used debit cards to withdraw about $1.73 million from the individual’s bank account, spend $165,270 on Amazon purchases, incur $191,543 in personal travel expenses, and spend more than $160,000 on other personal expenses, prosecutors allege.
In total, Musoke embezzled more than $2 million from Individual A, according to the U.S. Attorney’s Office.
Company A terminated Musoke in July 2023, after the alleged fraud was discovered.
From May 2021 to May 2023, Musoke filed false federal income tax returns in which he failed to report a total of about $1.76 million in income he embezzled through the unauthorized use of debit cards, prosecutors allege.
If convicted, Musoke could face up to 20 years in federal prison for each wire fraud count and a possible maximum of five years for each tax evasion count, officials noted.