Floyd Mayweather Jr. has opened a new legal fight over a fortune-sized money dispute, filing a lawsuit that accuses a former close associate and several other defendants of misappropriating at least $175 million tied to cash, jewelry, real estate, aircraft and business income.
The retired boxing champion filed the verified complaint in New York County Supreme Court on May 21. The defendants named in the complaint include Jona Rechnitz, Ayal Frist, also identified in the filing as Ayel Frist, Frist Apex Ventures, LLC, attorney Alexander Seligson and unnamed John Does.
The claims remain allegations. No court has ruled that the defendants are liable, and a source close to Rechnitz has disputed Mayweather’s accusations in media reporting.
Mayweather Claims a Trusted Adviser Took Control of Key Business Deals
The complaint says Rechnitz first gained Mayweather’s confidence around 2017 and, by 2024, had become a de facto investment manager, real estate adviser and banking liaison for Mayweather and several business entities connected to him.
Mayweather’s side alleges that position allowed Rechnitz and others to redirect money into accounts and entities they controlled. The filing claims the diverted assets included real estate equity, settlement proceeds, contractual income streams, jewelry and aircraft-related proceeds.
The plaintiffs are seeking compensatory damages of not less than $175 million, along with punitive damages, interest, a full accounting and a constructive trust over assets allegedly traceable to Mayweather’s money or property.
Jewelry, Miami Dealers and a Claimed $100 Million Valuation
One of the largest claims in the filing involves Mayweather’s jewelry collection. The complaint alleges that, in or around August 2025, jewelry with an asserted value of approximately $100 million was placed with two Miami dealers in exchange for about $13 million.
Mayweather’s side claims that the amount received was less than 14 percent of the asserted value and that a substantial portion of the jewelry remained in the dealers’ possession. The complaint also alleges that Mayweather did not receive a proper accounting and that the money connected to the jewelry was diverted rather than paid to him.
The filing describes an alleged iMessage exchange involving Mayweather, Rechnitz and the dealers. According to the complaint, one dealer warned that merchandise could be liquidated if payment was not made, and Rechnitz allegedly responded in agreement without authority from Mayweather to approve such a sale.
The Lawsuit Also Mentions a Gulfstream Jet and Real Estate Proceeds
The complaint also focuses on Mayweather’s aircraft. It alleges that in November 2025, Mayweather signed an FAA bill of sale for a 1996 Gulfstream G-IV connected to TBE Aviation, LLC, with the purchaser section left blank.
Mayweather’s filing says he does not know who acquired the aircraft and has not received an accounting of the proceeds. The complaint alleges that proceeds from the aircraft transaction were applied to a Bugatti-related obligation and otherwise diverted, with no portion paid to Mayweather or TBE Aviation.
Real estate transactions are another major part of the case. The complaint alleges that approximately $15 million in settlement proceeds connected to claims involving SL Green Realty Corp. were transferred to Frist Apex Ventures at Rechnitz’s direction and without Mayweather’s authorization.
The filing also alleges that a January 2026 email directed 80 percent of distributions from an upper Manhattan portfolio to Mayweather Promotions and 20 percent to Frist Apex Ventures. Mayweather’s side claims that arrangement confirmed an ongoing diversion of portfolio distributions.
The Defendants and the Legal Claims
The complaint brings claims including fraud, breach of fiduciary duty, aiding and abetting breach of fiduciary duty, conversion, accounting, unjust enrichment and money had and received. It also asks the court to impose a constructive trust on assets connected to Frist Apex Ventures.
Mayweather’s filing identifies Frist as the managing member of Frist Apex Ventures and alleges that Frist Apex functioned as a depository for money that should have gone to Mayweather or his companies. Seligson is described in the complaint as a New York attorney who allegedly held authority over certain disbursement accounts connected to Mayweather business entities.
TMZ reported that a source close to Rechnitz denied the allegations and said Mayweather’s financial issues, tax levy issues and lien matters predated Rechnitz’s professional involvement with him. That response has not been tested in court, and the case is still at the allegation stage.
The Filing Lands During a Busy Legal Stretch for Mayweather
The $175 million lawsuit arrived during a week when Mayweather was also reported to be facing a separate child support order in Nevada. TMZ reported that a judge declared Mayweather the father of a 4-year-old girl and ordered him to pay $32,850 per month in support, plus $933,050 in back support.
The separate child support matter is not part of the New York fraud lawsuit. It does, however, add to a wider legal stretch for the 49-year-old former champion, who retired from professional boxing with a 50-0 record and has continued to appear in exhibition boxing events.
Mayweather has also pursued other major litigation in recent months, including a separate lawsuit against Showtime Networks and former Showtime Sports president Stephen Espinoza. The new New York case now puts another nine-figure legal dispute around one of boxing’s most famous names, with the next step depending on how the defendants respond in court.