Floyd Mayweather has filed a lawsuit claiming he was defrauded of approximately $175 million by a former close associate and others in a years-long scheme involving jewelry deals, fake investments, unauthorized transfers and a missing private jet.
The complaint, reported by TMZ on Friday, names Jona Rechnitz, Ayal Frist, Frist Apex Ventures and attorney Alexander Seligson as defendants. Mayweather alleges Rechnitz, who had served as his de facto money manager, real estate advisor and banking middleman, gained his trust over several years before orchestrating what the suit describes as a “giant setup.”
Key allegations in the lawsuit
The suit outlines several specific claims of financial misconduct:
- Jewelry transactions: Mayweather alleges he turned over roughly $100 million worth of jewelry to Miami jewelers but received only about $13 million in return. A substantial portion of the collection remains missing, according to the complaint. The filing includes an alleged text exchange in which a jeweler threatened to liquidate the jewelry if payments were not made. Rechnitz allegedly replied, “Agreed thx.”
- Fake investment: Mayweather claims he wired $7.5 million into an investment deal that never materialized, with the funds disappearing.
- Unauthorized real estate transfer: The suit alleges $15 million tied to a realty settlement was moved out of his accounts without his permission.
- Missing Gulfstream jet: Mayweather says he unknowingly signed paperwork transferring ownership of his private jet while the buyer section was left blank. He claims he does not know where the proceeds from the aircraft went.
The complaint further accuses Ayal Frist of falsely presenting himself as a top executive of Vada Properties despite never holding that position.
Mayweather is seeking at least $175 million in damages, punitive damages and a full accounting of the missing funds and assets.
