Floyd Mayweather Jr., the undefeated boxing champion, has filed a lawsuit against his business advisor Jona Rechnitz, accusing him of stealing at least $175 million through a multi-year fraudulent scheme. The complaint, filed on Thursday in Manhattan County Supreme Court, alleges that Rechnitz, a convicted felon, misappropriated proceeds from the sale of real estate, jewellery, and a Gulfstream G-IV private jet.
According to the lawsuit, Rechnitz, 43, began cultivating a relationship with Mayweather in 2017 after being introduced by a mutual acquaintance. He presented himself as a sophisticated real estate investor and gradually assumed control over Mayweather's financial affairs, despite having a prior fraud conviction and a civil fraud judgment against him. Mayweather, 49, who has no formal financial training, relied on Rechnitz as his de facto investment manager, real estate advisor, and banking liaison by 2024.
The complaint details several alleged schemes. In July 2024, Rechnitz convinced Mayweather to invest $7.5 million in a deal that never materialised, with no return or principal repaid. That same month, he took out a $13 million loan secured against a Miami Beach property, using $6.5 million to buy a 1996 Gulfstream G-IV jet, which was later sold without Mayweather knowing the buyer or receiving an accounting of the proceeds.
Further allegations include a $16.4 million loan in October 2024 secured by liens on four properties, with nearly $9 million going to an LLC controlled by a Rechnitz associate. Mayweather claims he never received an adequate explanation for the transfer. The lawsuit also references a May 2025 real estate forum where Mayweather publicly stated he trusted Rechnitz 100 percent, despite the ongoing theft.
Rechnitz, who now lives in Southern California, did not respond to requests for comment. The lawsuit comes amid other legal troubles for Mayweather, including a court order to pay nearly $1 million in back child support and a joint lawsuit with Rechnitz over an unpaid $100,000 private jet bill.
