AceShowbiz - Details about the end of Cher and Alexander Edwards' relationship are here. After it was rumored that the pair had split, a new report claims that the veteran singer called off her wedding plans with the music producer after her family and friends warned her that AE might eye her $380 million fortune.

"For a while, Cher followed this guy around like a lovesick puppy, but the blinders seem to be coming off," said an insider to Radar Online. Another source added that now, "Cher's starting to see Alexander in a different light."

The musician allegedly paid for her own ring that many believed was their engagement ring and has been spoiling her boy toy, sparking concern among her inner circle. "Cher has always been so careful about her money, but she was throwing it at this guy and funding his over-the-top lifestyle!" an insider noted.

It was also said that in addition to her friends, her kids, Chaz Bono and Elijah Blue Allman, were all concerned and feared that AE had his eyes on their inheritance.

Cher allegedly planned to record two albums under AE's direction, but she appeared to change her mind after she started to see their relationship as one-sided. The new report also claimed that the "If I Could Turn Back Time" singer "grew annoyed with his suspicious behavior, and chafed at his bossy attitude in the recording studio."

The source went on to say that the 37-year-old didn't respect Cher's decades of experience in the industry. "AE wasn't even born when Sonny & Cher were topping the charts in the '60s," the source revealed. "Things didn't go well when he started barking orders in the studio as he does with younger artists."

According to the report, Cher's friends weren't that surprised to see the couple, who has 40-year age gap, breaking up. "This was going to happen eventually - or so her friends think," said the source. "They just hope she's OK."