Floyd Mayweather claims he was defrauded of more than $500 million in multiple lawsuits.
Floyd Mayweather is facing a financial crisis that gets worse by the week, and this time the numbers are absolutely staggering.
The retired boxing legend just filed a lawsuit claiming he was defrauded out of $175 million by a group of people who allegedly included his own trusted associates, TMZ reports.
The scheme involved Jona Rechnitz, Ayal Frist and attorney Alexander Seligson, who Floyd said systematically drained his accounts through phony investments, unauthorized wire transfers and shady business dealings that left him with nothing but empty promises.
The details are crazy. Floyd claimed that his jewelry collection, worth approximately $100 million, was turned over to Miami jewelers who only gave him approximately $13 million in return, with a large portion of it still sitting in their vaults.
He also said he wired $7.5 million into what he believed to be legitimate investment opportunities that never materialized, and that another $15 million was transferred out of his account without his permission. Even his Gulfstream jet allegedly disappeared after the documents he partially signed with the buyer were completely blank.
But here’s the thing: This isn’t even his only massive lawsuit. Earlier this year, Floyd filed a $340 million lawsuit against Showtime and former executive Stephen Espinoza, claiming they helped his longtime manager Al Haymon embezzle more than a decade of his career earnings.
When Floyd’s new team asked to see Showtime’s records, the network allegedly told him the books had been lost in a flood. Floyd claims that in total, he was defrauded of more than $515 million in the two lawsuits.
The financial bleeding doesn’t stop there.
Just last month, a Nevada court declared Floyd the father of a four-year-old girl named Price Moorehead and ordered him to pay $32,850 a month in child support, plus nearly $1 million in back payments.
Since 2024, he has also been sued over unpaid rent on a luxury Manhattan apartment, unpaid jet fuel bills, an IRS tax lien and a $100 million defamation lawsuit against Business Insider that he dismissed.
His attorney, Bobby Samini, said Floyd “will go through this in court just like he did in the boxing ring,” but at this rate the legal fees alone could cost more than some boxers make in their entire careers.
