Former world boxing champion Floyd Mayweather filed a $175 million lawsuit alleging he was defrauded through a network of fraudulent investment schemes and unauthorised financial transactions.
The lawsuit, filed in a United States court, names Jona Rechnitz, Ayal Frist, Frist Apex Ventures, and attorney Alexander Seligson as defendants. It accuses them of running a trick network that moved Mayweather’s money into fake businesses.
According to the court documents obtained by TMZ, a primary component of the litigation involves a high-value asset dispute. Mayweather said he entrusted $100 million worth of luxury jewellery to dealers in Miami but received only $13 million in return. The suit contends that the dealers remain in possession of the bulk of the assets and have issued text messages threatening to liquidate the pieces.
The retired boxer also stated that he paid $7.5 million for an investment deal that never happened, and that another $15 million from a real estate deal was moved out of his account without his permission.
Additionally, Mayweather claims he was tricked into signing paperwork to sell his Gulfstream private jet, with the buyer’s name left blank. He says he still does not know where the money from the plane sale went.
According to Mayweather, he is asking the court for at least $175 million in damages and a full audit of the accounts to find out exactly where his missing money went.
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