Mike Tyson and wrestling icon Ric Flair are suing their former marijuana business partners, accusing them of stealing millions of dollars.
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Mike Tyson and Ric Flair’s marijuana business has gone up in flames.
The boxing legend and wrestling icon have filed a $50 million lawsuit against their former business partner. They allege that executives treated their cannabis company, Carma, like a personal ATM machine.
Tyson and Flair have partnered with Carma to sell “Tyson 2.0” and “Ric Flair Drip” cannabis products. But things quickly turned sour.
The lawsuit alleges that Chad Brownstein, Adam Wilkes, Nicole Cosby and James Case extorted them. The 76-page court document charges four people with fraud, wire fraud and money laundering.
“Bronstein and Wilkes viewed CARMA as their own personal piggy bank,” the lawsuit states. They spent more than $1 million on private jets, yachts and home renovations.
Bronstein used company funds to repair his yacht and home. Wilkes paid his mortgage with Karma cash. They also spend money on expensive meals and travel.
The lawsuit alleges that Wilks entered into a secret agreement with e-cigarette maker DomPen. He received kickbacks for allowing them to use Karma’s stuff without permission.
Brownstein and Cosby’s attorney, Jonathan Cyrluk, fired back fiercely.
“The complaint is a work of fiction disguised as a lawsuit,” Siruk said. “Prior to filing the lawsuit, the plaintiff attempted to intimidate my client with settlement demands that sounded more like extortion.”
Tyson and Flair want a jury trial. They are seeking more than $50 million in damages and attorneys’ fees.
Mike Tyson has been at the forefront of cannabis reform. Earlier this month, Trump directed the Justice Department to move marijuana from Schedule I to Schedule III under the federal Controlled Substances Act.
“I’m trying to reschedule it from Tier 1 to Tier 3, you know, for medical researchers, the Open Space Banking Act, and there are over 500,000 people legally engaged in the cannabis business. They can’t get public loans, they can’t get any accounts, and we’re trying to stop that. People are going to consume anyway, so why not consume unsafely, right? During Prohibition, people drank and a lot of people died and got sick, so they made it safe and then legalized it, and we’re actually doing the same thing with marijuana.”
