Boxer Floyd Mayweather Jr. has filed a lawsuit alleging that a former close associate orchestrated a massive fraud scheme that cost him at least $175 million through unauthorized financial dealings, missing investments, and disputed property transactions.
Allegations Against Rechnitz and Others
According to court documents obtained by TMZ Sports, Mayweather claims businessman Jona Rechnitz spent years building trust with him before allegedly taking control of key financial matters, including banking arrangements, investment deals, and real estate transactions.
The former world champion alleges Rechnitz, alongside Ayal Frist, Frist Apex Ventures, and attorney Alexander Seligson, operated a fraudulent network that redirected millions of dollars through fake investments, unauthorized wire transfers, and questionable corporate entities.
Jewelry Deal Gone Wrong
Among the most serious allegations, Mayweather claims approximately $100 million worth of jewelry was handed over to Miami-based jewelers in exchange for only around $13 million. The lawsuit further alleges that a large portion of the jewelry collection remains in the possession of the dealers.
Court filings reportedly include text messages in which one jeweler allegedly threatened to begin liquidating Mayweather's jewelry if payments were not made. According to the complaint, Rechnitz allegedly responded: "Agreed thx."
Missing Investments and Aircraft
Mayweather also claims he transferred $7.5 million into what he believed was a legitimate investment opportunity, only for the deal never to materialize and the money to disappear. The boxer additionally alleges that another $15 million connected to a real estate settlement was moved without his authorization.
The lawsuit further claims Mayweather unknowingly signed documents transferring ownership of his Gulfstream private jet with the buyer information left blank. According to the filing, the former boxer says he still does not know where the proceeds from the aircraft sale went.
False Representations and Damages Sought
Mayweather also accuses Frist of falsely portraying himself as a senior executive at Vada Properties despite allegedly never holding such positions. The former boxing champion is seeking at least $175 million in damages, punitive compensation, and a full financial accounting of the allegedly missing funds.
