Source: BroBible
Summary
Floyd Mayweather is suing his former investment manager and real estate adviser, Jona Rechnitz, for allegedly scamming him out of $175 million. Rechnitz allegedly made unauthorized transactions using Mayweather’s money to purchase assets, including real estate and jewelry, over several years. Mayweather claims that Rechnitz presented himself as a sophisticated real estate investor and developed a relationship with him before transferring his funds without authorization. The lawsuit also accuses Rechnitz of sending millions of dollars from Mayweather’s properties to First Apex Ventures, a Florida real estate and investment company.
Our Reading
The habit gets a new name.
Floyd Mayweather’s investment manager was a real estate guru, or so he thought. Turns out, he was just a scammer. Mayweather lost $175 million to his “adviser”. Who needs due diligence when you’ve got a boxing championship belt? Mayweather’s financial woes are a never-ending story. First, the IRS comes after him, then a court orders him to pay child support, and now this. It’s a good thing he’s got a good lawyer to help him fight for his money.
Author: Evan Null
