Floyd Mayweather is suing over an alleged financial scheme he claims cost him at least $175 million.
The retired boxing star filed a lawsuit accusing former close associate Jona Rechnitz, Ayal Frist, Frist Apex Ventures, and attorney Alexander Seligson of participating in a fraud operation involving jewelry, wire transfers, real estate money, business entities, and a private jet transaction.
According to the lawsuit obtained by TMZ Sports, Mayweather claims Rechnitz gained his trust over several years and became involved in financial matters tied to banking, property, and investments. Mayweather alleges that position was then used to move money and assets without proper authority.
The largest claim centers on jewelry. Mayweather alleges about $100 million in jewelry was placed with Miami jewelers, but only about $13 million was returned. The lawsuit also says a large portion of the collection remains with dealers.
The case includes an alleged text exchange where a jeweler warned that Mayweather’s pieces could be liquidated if payments were not made. Rechnitz allegedly replied, “Agreed thx.”
Mayweather Lawsuit Alleges Missing Investment Money And Jet Transfer Issues
Mayweather also claims he wired $7.5 million into what he believed was an investment, but says the deal never happened and the money disappeared.
The lawsuit separately alleges $15 million connected to a real estate settlement was transferred without Mayweather’s permission. Another claim involves his Gulfstream jet, with Mayweather alleging he unknowingly signed paperwork that transferred ownership while the buyer section was left blank. The lawsuit says he still does not know where the aircraft money went.
Frist is also accused of falsely presenting himself as a top executive tied to Vada Properties, despite allegedly not holding those positions.
Mayweather is seeking at least $175 million, punitive damages, and a full accounting of the money and assets described in the lawsuit.
The legal fight involves one of boxing’s richest names. Mayweather retired from professional boxing at 50-0 with 27 knockouts, won major world titles across five weight classes, and beat Oscar De La Hoya, Ricky Hatton, Juan Manuel Marquez, Shane Mosley, Miguel Cotto, Canelo Alvarez, Manny Pacquiao, Andre Berto, and Conor McGregor.
Mayweather was inducted into the International Boxing Hall of Fame in 2021. He later moved into exhibition boxing after the McGregor bout. His planned Mike Tyson exhibition has since been postponed while Tyson recovers from a broken hand, and the proposed Manny Pacquiao rematch has also faced venue and rules issues.
