Retired boxing champion Floyd Mayweather Jr. has filed a lawsuit accusing a former close associate of orchestrating a massive fraud scheme that allegedly cost him at least $175 million through unauthorised financial transactions, failed investments and disputed property deals.
According to court documents cited by TMZ Sports, Mayweather alleged that businessman Jona Rechnitz spent years gaining his trust before taking control of several financial matters, including banking arrangements, investment opportunities and real estate transactions.
The lawsuit named Rechnitz, Ayal Frist, Frist Apex Ventures and attorney Alexander Seligson as defendants in what Mayweather described as a fraudulent network that allegedly redirected millions of dollars through fake investments, unauthorised wire transfers and questionable corporate entities.
Among the allegations, Mayweather claimed that jewellery valued at about $100 million was handed over to Miami-based jewellers in exchange for approximately $13 million, while a significant portion of the collection allegedly remains with the dealers.
The court filings also reportedly included text messages in which one jeweller allegedly threatened to liquidate Mayweather’s jewellery if payments were not made, to which Rechnitz allegedly replied, “Agreed thx.”
The former world champion further alleged that he transferred $7.5 million into what he believed was a legitimate investment project that never materialised, while another $15 million linked to a real estate settlement was allegedly moved without his approval.
Mayweather also claimed he unknowingly signed documents transferring ownership of his Gulfstream private jet with buyer details left blank, adding that he does not know where proceeds from the aircraft sale went.
In the suit, the boxer accused Frist of falsely presenting himself as a senior executive at Vada Properties despite allegedly never holding such positions.
Mayweather is seeking at least $175 million in damages, punitive compensation and a full accounting of the allegedly missing funds.
