Kenan Thompson Recalls Losing Nickelodeon Earnings in Accounting Scam, 'Going from Rags to Riches and Back to Rags'

The devastating news came as the young actor was trying to buy his first home

Kenan Thompson had little to show for his Nickelodeon fame at the end of his years of work.

The actor appears in Demi Lovato's new documentary, Child Star. There, he talks to the fellow performer (who uses she/they pronouns) about the earliest years of their fame.

Speaking of the start of his career, Thompson explained, “That first commercial when they paid me, it was like $800. I was 12 and it might as well have been a million dollars."

Landing and keeping continuous work wasn't easy, however. As the two discussed rejection, Thompson admitted, "I really considered not wanting to act anymore if these are the kinds of things I had to go through."

"It was almost like I was forced to stay humble, if you will, because when I could have been at my most boisterous, ‘everybody knows my name’ kind of years, I didn’t want that because I didn’t want people to know I was struggling. It’s kind of the beautiful conundrum, the irony of life."

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Related: From JoJo Siwa's Coming Out to Kenan Thompson Getting Conned: Biggest Revelations from Demi Lovato's Child Star Documentary

When the subject of finances came up, Thompson explained how due to a lack of laws protecting child performers in Florida, where he filmed with Nickelodeon, he was scammed out of a significant portion of his early earnings.

“My mom met this dude somewhere through the community — either like church or neighborhood s---, through a book club or something, who claimed to be a good kind of tax accountant, will get you out of your tax problems for the cheap," he recalled.

"He was basically a con artist and like ran away with my entire, my biggest earnings up until that point," Thompson revealed. "By the time that was discovered, that was toward the end of that Nickelodeon tenure and the end of the job-to-job existence I had up until that point, and it was devastating because I discovered it in front of others."

Thompson explained he was in the process of buying his first home in Atlanta when he discovered his accountant wasn't who he thought he was.

"He didn’t show up with the f------ check. I’m with the real estate people at the office waiting to sign this paperwork, and he doesn’t bring the check."

"It’s crazy going from rags to riches and back to rags," he added. "It’s a mother------.”

Thompson, now 46 and a father of two, has since gone on to continued success on SNL in addition to extensive acting work in TV and movies.

Child Star is now streaming on Hulu.

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