Floyd Mayweather Jr Suing Business Manager for 175 Million Dollars
Former undefeated boxing champion Floyd Mayweather Jr. filed a lawsuit Thursday evening in Manhattan County Supreme Court against his former business advisor Jona Rechnitz, alleging a multi-year fraud scheme that led to the theft of at least $175 million tied to real estate, jewelry, and private jet sales.
The complaint says the 49-year-old boxer has no formal post-secondary education or financial training and depended fully on managers for financial oversight. It alleges Rechnitz became his de facto investment manager by 2024, concealed prior fraud convictions and civil judgments, and carried out unauthorized transactions. Mayweather and Rechnitz were also jointly sued last month over an unpaid $100,000 private jet bill.
Mayweather previously defended Rechnitz at a May 2025 New York real estate forum, while the complaint claims the alleged theft was ongoing during the same period.
Specific allegations include a July 2024 incident where Rechnitz allegedly persuaded Mayweather to invest $7.5 million in a fictitious deal that produced no returns. That same month, he allegedly secured a $13 million loan against Mayweather’s Miami Beach property and diverted the funds without accounting. In October 2024, he allegedly arranged $16.4 million in cross-collateralized loans against four properties, with nearly $9 million routed to an associate’s firm LLC. In August 2025, he allegedly pledged $100 million in Mayweather jewelry, including Rolex and Jacob & Co. pieces, as collateral for $13 million in unpaid loans.
The complaint also cites alleged losses of $2.1 million from a refinancing and $15 million from a real estate settlement due to unauthorized diversions. It says a $1 million deposit for a commercial real estate deal was instead sent to a Manhattan jeweler, and that the jewelry collection remains tied up with Miami dealers after loans came due. Court filings state no principal has been returned from the initial funds, and include text screenshots from a jeweler demanding repayment from both men. An LLC tied to an associate allegedly received most of the cross-collateralized funds.
The case is pending further hearings. A source close to Rechnitz denies the allegations and says Mayweather’s financial, tax, and lien issues predate 2018 and were not caused by Rechnitz.
CBN – I’m not saying Jona did anything wrong here and I’m sure there will be lot to unravel in the coming months, but if Floyd would have used a licensed financial advisory like Hirsh Zyskind then this most likely would not have happened…
Mr. Floyd “Money” Mayweather doesn’t seem to be too sharp…
