Floyd Mayweather Jr. is at the center of another major legal battle, this time alleging he was the victim of a long-running financial scheme that cost him a staggering $175 million.
According to reports, including details obtained by TMZ Sports, Mayweather has filed a lawsuit in New York accusing former associate Jona Rechnitz, along with Ayal Frist, Frist Apex Ventures, and attorney Alexander Seligson, of orchestrating a complex fraud operation over several years.
In the filing, “Money” claims Rechnitz gained his trust before effectively taking control of key financial dealings, including investments, banking activity, and real estate transactions. The lawsuit outlines multiple instances where large sums of money were allegedly diverted without his authorization.
Among the claims, the undefeated boxing legend says he wired $7.5 million into an investment that never materialized, while another $15 million tied to a real estate settlement was transferred without his approval. He also alleges that more than $8.8 million from a $16.4 million loan involving four properties was redirected, with only $2.5 million reaching his promotional company.
The suit further states that $2.1 million from an $8.2 million refinance of a Las Vegas property was sent to outside accounts without his consent. In another instance, a $1 million deposit intended for a New York property purchase was allegedly rerouted, causing the deal to collapse.
One of the most striking accusations involves Mayweather’s jewelry collection. He claims nearly $100 million worth of pieces were handed over to jewelers for just $13 million, with a significant portion of the assets still unaccounted for.
The lawsuit also raises questions about the fate of his private jet. The 49-year-old American alleges he unknowingly signed documents transferring ownership of his 1996 Gulfstream IV aircraft without a listed buyer and has no clarity on where the proceeds ended up.
Through his legal team, “Money” is seeking at least $175 million in damages, along with a full financial accounting of the alleged transactions.