Floyd Mayweather hits Jona Rechnitz with fraud lawsuit, alleges diversion of $175M
Floyd Mayweather Jr. is suing his scandal-plagued former buddy and investment manager Jona Rechnitz, claiming Rechnitz gained his trust and then diverted $175 million from the champion boxer. Mayweather alleges that Rechnitz orchestrated a multi-year fraud to move Mayweather’s cash, jewelry and real estate funds into accounts connected to Rechnitz and his associates. Mayweather hired brash commercial and bankruptcy attorney Leo Jacobs to bring a lawsuit in New York state court against Rechnitz, his associate Ayal Frist and Manhattan attorney Alexander Seligson. “The gloves are off,” Jacobs told The Real Deal. “This is a case to watch.” TMZ first reported […]
This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
America’s Top Architects: New York’s 1100 Architect Goes
Bold Near Boston
Kathie Lee Gifford’s headline listing and Greenwich’s lux
surge
Hotel union deal puts NYC owners on notice
The Daily Dirt: Hochul’s budget delays keep NYC real estate
in flux
NYC’s top deals: UES co-op sells for $13M
How To Take Your Real Estate Business To The Next
Level
Sherwin Belkin, prominent New York landlord-side attorney,
to retire
Modified COPA nears passage despite real estate
pushback
A New Bill Proposes Tax-Free Savings for
Homeownership—Here’s How It Could Help Prospective
Investors
