Floyd Mayweather aims staggering $175 million lawsuit alleging fraud at former associates

Floyd Mayweather has filed a jaw-dropping lawsuit worth $175 million at his former associates, alleging fraud in an extensive list of claims.

The undefeated professional boxing champion, whose fighting records stands at 50-0, has filed a lawsuit against former manager Jona Rechnitz and Ayal Frist, of real estate and investment firm Frist Apex Ventures, alleging that they defrauded him over multiple years.

Alexander Seligson, an attorney who handled the refinance of one of Mayweather's properties, is also listed as a defendant.

Mayweather’s attorney, Leo Jacobs, said in a statement relayed by ESPN: “The conduct alleged in this pleading — including the diversion of settlement proceeds, refinance proceeds, and recurring real estate distributions to accounts controlled by Jona Rechnitz through Frist Apex Ventures — demands a full judicial accounting.

"We look forward to obtaining that accounting and to recovering every dollar to which our client is entitled,” Jacobs continued.

Mayweather also made headlines earlier this week after being ordered to pay $1 million back in child support after he was legally declared to be the father of a four-year-old girl, as reported by TMZ.

The professional boxer was also reported in February, again by TMZ, to be in the process of suing Showtime, to “recover hundreds of millions of dollars in the misappropriated funds and damages resulting from a long-running and elaborate scheme of financial fraud.”

List of Mayweather’s lawsuit allegations

As relayed by ESPN, Mayweather’s lawsuit alleges a plethora of issues, including a $7.5 million wire for a 12-month investment on July 1, 2024, to Frist Apex where no investment was made and the initial money was never returned.

Another is unauthorized allocations of Mayweather's money to Frist Apex, including $15 million in settlement proceeds from a realty company at Rechnitz's direction.

It is alleged that Rechnitz diverted a $1 million deposit agreed to by Mayweather to buy a New York property in 2025 to pay a New York jeweller instead, and as a result the property deal never closed.

It is also alleged that $2.1 million of an $8.2 million refinance of one of Mayweather's Las Vegas properties was sent to First Apex "at Rechnitz's direction, and without Mr. Mayweather's authorization."

Mayweather is estimated to have earned $1 billion throughout his esteemed fighting career, recently exiting retirement for the fourth time and planning to fight Manny Pacquiao in a much-anticipated rematch this September.

The five-division world champion, to whom the IRS filed a nearly $7.3 million lien against in March for unpaid taxes in 2018 and 2023, is set to fight both in and out of the ring this year.

Mayweather beat Pacquiao, in a bout dubbed as the ‘Fight of the Century’, by unanimous decision in 2015, with Netflix announcing the Filipino's Revenge Match in February.