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.