Boxing legend Floyd Mayweather Jr. is accusing a former political donor with a criminal past of orchestrating a sprawling fraud scheme that allegedly cost him millions in cash, jewelry, and luxury assets — including his custom private jet.
The lawsuit, filed in Manhattan Supreme Court, claims former New York powerbroker Jona Rechnitz carried out “a multi-year fraudulent scheme” involving real estate transactions, jewelry deals, and the sale of Mayweather’s Gulfstream jet, per the New York Post.
“As they say, the gloves are off,” Mayweather attorney Leo Jacobs told The Post. “This case is about restoring to our client what is rightfully his.”
According to court filings, Rechnitz became deeply involved in managing the retired boxer’s finances and investments in 2024.
The suit claims Mayweather trusted Rechnitz with overseeing banking, real estate, and other business matters before the relationship allegedly spiraled into deception.
Mayweather alleges Rechnitz concealed details about his criminal background, which included pleading guilty in 2016 in connection with a corruption scandal involving NYPD officers, prostitutes, and luxury trips. Rechnitz was also known as a major donor and ally to former New York City Mayor Bill de Blasio.
The lawsuit seeks $175 million in damages and outlines a series of alleged financial maneuvers.
One accusation claims Rechnitz transferred $7.5 million from one of Mayweather’s companies to a Florida LLC tied to associate Ayel Frist under the guise of a “12-month investment” that allegedly never existed.
The filing also claims Rechnitz used nearly $100 million worth of Mayweather’s jewelry as collateral for a $13 million loan with Miami jewelry dealers.
Court documents included text messages allegedly showing concerns about the loan. One dealer warned he would “start to liquidate the merchandise” if payments were not made.
“Agreed thx,” Rechnitz allegedly responded.
Mayweather later texted, “I fought from a kid to get everything I own, and it’s sad that someone would even put me in this situation.”
Another part of the lawsuit centers on the boxer’s private jet.
According to the filing, Rechnitz convinced Mayweather to sign paperwork related to the aircraft’s sale in late 2025, but the buyer’s information was allegedly left blank. Mayweather claims he never received any money from the transaction.
The lawsuit further accuses Rechnitz of diverting real estate settlement funds into shell companies and siphoning portions of loans and investment payouts for himself.
Rechnitz’s attorney, Morris Missry, blasted the lawsuit as “utterly baseless.”
Missry also claimed Mayweather’s own financial troubles would become public during the case, citing alleged gambling debts, IRS liens, and unpaid obligations.
The legal battle now threatens to expose years of financial dealings surrounding one of boxing’s wealthiest and most recognizable stars.
