Floyd Mayweather Jr. has filed a lawsuit against his former investment manager, Jona Rechnitz, and real estate adviser, Ayal Frist, in which he seeks $175 million.
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The former professional boxer alleges that Rechnitz and Frist committed fraud and made unauthorized allocations of his money. This includes diverting money from its intended destinations.
ESPN obtained a copy of the lawsuit and detailed some of the allegations. One example includes a $7.5 million wire for a 12-month investment to Frist Apex Ventures, another defendant in the case. The lawsuit alleges that this investment never happened and that no money was ever returned.
Additionally, Mayweather alleges that a $1 million deposit to buy a New York property was diverted to a New York jeweler in 2025. This property purchase did not happen.
The lawsuit also alleges that Rechnitz suggested that Mayweather sign a bill of sale for his 1996 Gulfstream IV without a listed purchaser. It alleges that the money went to a "Bugatti-related obligation" and was "otherwise diverted to Frist Apex."
Mayweather's attorney said in a statement to ESPN that the conduct alleged in the lawuit demands "judicial accounting." He added that they look forward to obtaining the accounting and recovering "every dollar."
An attorney representing Rechnitz, Frist, Frist Apex Ventures, and attorney Alexander Seligson pushed back on the allegations. They said in a statement to ESPN that these claims are baseless and that Mayweather will be "paying damages" at the end of the case.
"We have thoroughly reviewed Mr. Mayweather's lawsuit," Morris Missry said in a statement. "His claims against our clients are utterly baseless and refuted by substantial documentary evidence including Mr. Mayweather's own correspondence.
"Our clients intend to vigorously defend against these claims and are confident that once all of the facts are presented in court, not only will our clients be vindicated, Mr. Mayweather's gambling issues, prolific spending habits, monies owed to third party creditors and IRS tax liens and levys, as well as other unseemly behavior, will be exposed and we believe that Mr. Mayweather will be the one paying significant damages to our clients."
This is not the only lawsuit that Mayweather has filed this year. Back in February, he filed a lawsuit against former manager and advisor, Al Haymon, as well as Showtime and executive Stephen Espinoza.
Mayweather, who fought eight times on Showtime PPV, alleged that Showtime and Espinoza worked together to divert money into accounts owned by Haymon. He claimed in the lawsuit that he is missing $340 million from his reported $1.2 billion in career fight purses.
