Romeo Santos Sues Accounting Firm for Malpractice Over Financial Mistakes He Says Cost Him Millions
The star singer says he hired a firm that sold itself as an "entertainment-industry specialist," but that it botched his taxes so badly that he lost millions.
Latin music star Romeo Santos has filed a lawsuit against his long-time accounting firm, BDO USA, alleging "gross negligence" and professional malpractice resulting in millions of dollars in damages. His attorney, James Sammataro, states that for seven years, Santos trusted his financial affairs to BDO, an accounting and business management firm that branded itself as an entertainment industry specialist.
Santos claims that BDO's mismanagement of his finances included failing to properly pay his taxes, file returns, and claim credits on foreign taxes already withheld from his royalties. Specifically, the lawsuit points to errors in New York state taxes and a "coherent" return that set off an expensive audit. Furthermore, after terminating the firm in 2023, BDO allegedly withdrew money from Santos' account without authorization to cover its own fees.
The case is not the first of its kind involving BDO. In 2022, rapper Fat Joe had also sued the company and two of its employees, alleging similar allegations of fraud that bore similarities to a Ponzi scheme. That case was later resolved in 2024 on confidential terms.
Written by urgent.news from Billboard's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
