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Billy Blanks -- Money Managers Jacked Me for $1 Mil

10/20/2010 9:45 PM PDT BY TMZ STAFF

Legendary Tae Bo badass Billy Blanks claims his former financial managers ripped off more than a million bucks from his bank accounts ... and now he's suing them to get back the cash.

1020_billy_blanks_EX_getty

Blanks filed the lawsuit today -- in L.A. County Superior Court -- against his ex-money handlers Rhenee Foster and Demetria Gutierrez. In the legal papers, he claims between 2007 and 2010 they made more than 70 unauthorized wire transfers and check withdrawals ... totaling $1,158,484.11.

According to the suit, Foster and Gutierrez used Blanks' money to pay for their groceries, vacations, spa treatments, phone bills and even college tuition for one of their daughters.

We tried to contact Foster and Gutierrez's company, but it's no longer listed in L.A. County.


22 COMMENTS

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1.

Throwback kid    

For the first time I don't know what to say about this?

1409 days ago
2.

Throwback kid    

Gee, I was first and I wasn't even trying to be. I guess I should wish Billy good luck getting his money back but if he doesn't no big deal either way.

1409 days ago
3.

Holly    

Billy look kind of bad in that picture.

1409 days ago
4.

Joann    

Is he broke???? I don't understand some of these people. They know how to make the money but not how to protect it.

Seems like your paycheck would be the top priority in your life that you make sure is secure, even if you had to handle it yourself. He probably had "friends he knew from the streets" handling his money.

1409 days ago
5.

Gluey    

did he just get out of a deep fryer?

1409 days ago
6.

Trisha    

There you go again, TMZ. Posting a bad picture of someone when there are plenty of better ones to choose from, lol. WTH?

1409 days ago
7.

Horndog    

Who?

1409 days ago
8.

t jam     

are there no more honest people out there ,,everybody gotta steal ,,,,maybe laws should get stricter for theifs ,,but the theifs are the ones that make the laws ,

1409 days ago
9.

Throwback kid    

For some reason another poster seemed annoyed that I mentoned I was first? I don't like to be first, there is usually a silly comment by the person about being first. That's why I mentioned that my my comment happened to be first but I wasn't trying to do that, it's really no big deal and I am well aware that the other people can read, so I don't know what the big deal is about me mentioning I got the first comment.

With that said, Billy is basically a D lister, that's probably why no one cares about this story. Tae Bo has gone the way of Aerobics and the VHS, no one cares.

1409 days ago
10.

Big Mamma Cornbread    

HE LOOKS LIKE ..COACH CRAZY, A LITTLE LEAGUE YOUTH FOOTBALL COACH/COOK/ASSIST

1409 days ago
11.

Andrettianna    

"We tried to contact Foster and Gutierrez's company, but it's no longer listed in L.A. County."

great investigative skillz TMZ. *eye roll* Glad we're limited to the PHONE BOOK nowadays!

1409 days ago
12.

Stretchnuts    

Look's like a burnt match

1409 days ago
13.

andy    

The Eyes Have It ! ! !

What a picture . . .

Good Luck.

1409 days ago
14.

MIDNIGHT TOKER    

he spent it on popeyes classic fried chicken and hoes and doesnt remember

1409 days ago
15.

THE SHEENY MAN    

Is that Tyrone Biggums???

Remember what the Bible says: He who is without sin, cast the first rock. And I shall smoketh it.

1409 days ago
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