Mayweather entangled in multi-million-dollar legal battles on multiple fronts
American professional boxer and boxing promoter Floyd Mayweather is currently enmeshed in a chaotic web of multi-million-dollar lawsuits in which he is both the plaintiff in massive fraud claims and the defendant in breach-of-contract disputes.
Mayweather was sued Thursday as promoter CSI seeks repayment of $4.65 million in advances paid to the boxer for a two-fight deal to face Mike Tyson and Manny Pacquiao.
The plaintiff, CSI, is seeking an injunction to block Mayweather’s forthcoming exhibition scheduled to take place in Greece on June 27th against Mike Zambidis.
CSI claims that he took the money to secure exclusive rights for two mega-fights (an exhibition against Mike Tyson and a rematch with Manny Pacquiao), only to walk away and pursue other events instead.
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In a related development, Mayweather also filed a $100 million lawsuit against Business Insider over a report alleging that he fabricated a 62-building real estate portfolio in Manhattan.
Similarly, Mayweather is also suing his former manager (Jona Rechnitz) and Frist Apex Ventures for $175 million. He claims they defrauded him, pawned approximately $100 million worth of his jewelry for a fraction of its value, mishandled real estate, and transferred ownership of his private jet without his full knowledge.
Aside from civil disputes, Mayweather is also facing unrelated legal pressure, including a $7.3 million IRS tax lien filed in Nevada and felony criminal charges regarding bad checks.
