Romeo Santos sues BDO USA for alleged financial negligence

Latin music artist Romeo Santos has filed a lawsuit in Miami federal court against his former accounting and business management firm, BDO USA, alleging professional negligence and malpractice.

The lawsuit claims the firm failed to correctly manage complex, multi-state tax returns, specifically noting that an erroneous filing for 2021 reported Santos as a full-year non-resident of New York, which triggered an audit. Santos also alleges the firm failed to claim foreign tax credits on royalties and allowed large cash balances to sit idle in checking accounts without earning interest. Additionally, the complaint states the firm failed to fund his IRA and withdrew funds from his account without authorization after the professional relationship ended in 2023.

Santos is seeking at least $2.3 million in damages to cover tax penalties, interest, and the costs of hiring new accountants to rectify the financial issues. While lawyers for the singer claim BDO acknowledged certain ‘specific errors’ during prior settlement attempts, no agreement was reached.