Overview
- Mayweather filed the suit in Manhattan on May 22, saying Jona Rechnitz, Ayal Frist, Frist Apex Ventures and attorney Alexander Seligson ran a multi-year fraud that cost him at least $175 million.
- The complaint lists specific transactions it says were misused, including a $7.5 million wire that produced no investment, redirected loan and refinance proceeds, and repeated real-estate distributions sent to accounts tied to Rechnitz or Frist Apex.
- Mayweather alleges about $100 million in jewelry was pledged to Miami dealers for roughly $13 million that he never received and that much of the collection remains with the dealers.
- The filing says Mayweather signed a blank bill of sale for his 1996 Gulfstream IV at Rechnitz’s suggestion, and that he does not know who bought the jet or where the sale proceeds went.
- Defendants have not publicly responded and Mayweather is seeking at least $175 million, disgorgement, punitive damages and a full judicial accounting while the case moves into the New York court process and discovery phase.