Floyd Mayweather latest scandals: Boxer involved in separate child support lawsuit, $175 million scam
The 23-page complaint says Rechnitz diverted funds, arranged an unpaid $7.5 million wire and pledged nearly $100 million in jewelry for $13 million.
- Boxer Floyd Mayweather Jr. filed a civil complaint Thursday in Manhattan County Supreme Court against former advisor Jona Rechnitz, alleging a multi-year fraudulent scheme that cost him at least $175 million.
- Rechnitz cultivated a relationship with Mayweather starting in 2017, positioning himself as a sophisticated advisor while hiding a prior fraud conviction and bribery history involving New York City officials.
- The lawsuit alleges Rechnitz siphoned funds through unauthorized transfers to First Apex Ventures, including pledging nearly $100 million in jewelry as collateral for just $13 million without authorization.
- Mayweather seeks damages of not less than $175,000,000 plus punitive awards, while Rechnitz has roughly 21 days to file a legal response to the allegations.
- Beyond this lawsuit, Mayweather confronts a nearly $7.3 million IRS lien filed in March for unpaid taxes and a court ruling mandating child support payments of $33,000 monthly.
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Mayweather, with 1.5 trillion won in earnings, boasted of stacks of cash... now facing a 260 billion won lawsuit. "This is truly insane." He has sued his associates for fraud. OSEN = Reporter Ko Seong-hwan. Money Floyd Mayweather (49) has once again found himself at the center of controversy over money issues. The five-division world champion has stepped forward with a lawsuit worth hundreds of billions of won.
Boxer Floyd Mayweather accuses ex-manager of $175 million swindle
MANHATTAN (CN) — Boxer Floyd Mayweather Jr. filed a civil complaint on Friday afternoon against a disgraced former New York City power broker for defrauding him to the tune of $175 million while briefly working as the undefeated champion’s investment portfolio manager. Mayweather accuses Jona Rechnitz, his de facto investment manager, real estate adviser and banking liaison in recent years, of financial fraud and breaching fiduciary duties by s…
The Independent
The Independent (US)Boxing champ Floyd Mayweather Jr. accuses business advisor of pilfering $175 million
Exclusive Details: ‘As they say, the gloves are off,’ Mayweather’s attorney Leo Jacobs told The Independent of his client’s allegations against Jona Rechnitz
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