Mayweather Promotions, LLC · TBE Aviation, LLC · Fojoso, LLC · 9504 Kings Gate Ct. LLC · Vada Properties I, II & III NYC, LLC
Leo Jacobs, Adam B. Sherman, Wayne M. Greenwald
717 Fifth Avenue, 17th Floor, NY 10022
According to the complaint, the alleged scheme began around 2017 when Rechnitz was introduced to Mayweather and positioned himself as a sophisticated real estate investor. By 2023–2024, Rechnitz had become Mayweather's de facto investment manager, real estate advisor, and banking liaison.
The complaint alleges Mayweather — described as having no formal training in finance, accounting, or real estate — was not told that Rechnitz had pleaded guilty to federal wire-fraud conspiracy in 2016 (SDNY, 16-cr-389) or that a $17.7 million civil fraud judgment was already entered against him in a separate Los Angeles case.
Rechnitz allegedly used his position to redirect Mayweather's funds into accounts controlled by his associates — primarily through Frist Apex Ventures, LLC, a Florida entity managed by co-defendant Ayal Frist. A third co-defendant, Alexander Seligson, a New York attorney, was allegedly installed as managing agent over Mayweather's single-purpose Nevada LLCs and disbursement accounts at Rechnitz's direction.
The complaint itemizes specific transactions where Mayweather's funds were allegedly redirected without his authorization:
Filed three months earlier — in February 2026, Mayweather sued Showtime Networks and former Showtime Sports president Stephen Espinoza in Los Angeles Superior Court, alleging they helped his longtime manager Al Haymon siphon at least $340 million from his $1.2 billion career earnings.
The complaint describes a two-decade scheme orchestrated by Al Haymon, who became Mayweather's de facto manager around 2005 on a verbal 10% deal. Haymon allegedly diverted fight earnings into accounts controlled by his associates — including an account at First Security Bank of Nevada in the name of his accountant Jeff Morris — while telling Mayweather he was working for free out of loyalty.
Showtime's alleged role: as Mayweather's broadcast partner for major PPV events including the Pacquiao (2015) and McGregor (2017) fights, the complaint says Showtime wired Mayweather's share of fight proceeds directly to the Morris/Haymon-controlled accounts instead of to Mayweather. The complaint alleges Espinoza and other Showtime executives knew Haymon was the one actually controlling the money.
When Mayweather's new team (led by Richard Schaefer) requested financial breakdowns from Showtime in late 2024, they were told records from the Pacquiao and McGregor fights were "lost in a flood" or stored off-site. The complaint also alleges Showtime still owes Mayweather $20 million from the Andre Berto fight, a payout that was supposed to come from Pacquiao fight proceeds.
After Haymon suffered a stroke in late 2023, five of Mayweather's lawyers abruptly left within a three-month span. Espinoza departed Showtime around the same time and took a consulting role with Haymon's Premier Boxing Champions (PBC) venture with Amazon Prime — which Mayweather says reveals the true alignment.
Haymon not yet sued — Al Haymon is notably absent as a named defendant. Reports indicate a separate lawsuit against Haymon may follow. The decision to sue Showtime first may be strategic — to access financial records through discovery before taking on the alleged mastermind directly.
- IFraud — Against Rechnitz & Frist. Alleges material misrepresentations about the nature and purpose of fund transfers, with Rechnitz concealing his prior wire-fraud conviction and the diversion of assets. Seeks $175M+ in compensatory and punitive damages.
- IIBreach of Fiduciary Duty — Against Rechnitz. Alleges a constructive fiduciary relationship arose from Rechnitz's role as de facto investment manager. Claims Rechnitz diverted funds, engaged in undisclosed self-dealing, and installed Seligson as disbursement agent. Seeks $175M+, disgorgement, and punitive damages.
- IIIAiding & Abetting Breach of Fiduciary Duty — Against Frist, Frist Apex Ventures & Seligson. Alleges each had actual knowledge of Rechnitz's fiduciary duties and breaches and provided substantial assistance. Seeks $175M+.
- IVConversion — Against Rechnitz, Frist & Frist Apex. Alleges unauthorized dominion over identifiable property including the diverted wire transfers, loan proceeds, aircraft proceeds, and pledged jewelry. Seeks $175M+ and punitive damages.
- VAccounting — Against All Defendants. Demands a full and complete accounting of all funds, property, and value received from or attributable to Plaintiffs.
- VIUnjust Enrichment — Against Rechnitz, Frist & Frist Apex (alternative). Alleges enrichment through receipt and retention of Plaintiffs' funds, seeking restitution plus interest.
- VIIConstructive Trust — Against Frist Apex Ventures. Seeks imposition of constructive trust on all funds in Frist Apex's JPMorgan Chase accounts, all traceable property, and all Manhattan portfolio distributions routed to Frist Apex.
- IAiding & Abetting Breach of Fiduciary Duty — Against Showtime & Espinoza. Alleges they knew Haymon was acting as a fiduciary, knew he was breaching those duties, and provided substantial assistance by routing fight proceeds to Haymon-controlled accounts. Seeks $340M+.
- IICivil Conspiracy to Commit Fraud — Against Showtime & Espinoza. Alleges a meeting of minds by at least 2015 that Haymon would control Mayweather's money through Showtime's payment structure. Cites four overt acts: routing funds to secret accounts, recording false expenses ($50M+ in inflated charges), concealing information, and Espinoza joining Haymon's PBC after leaving Showtime.
- IIIConversion — Against Showtime & Espinoza. Alleges Showtime exercised wrongful dominion over Mayweather's property by depositing his earnings into accounts he did not control, then refusing to return the funds or provide an accounting when demanded in 2024.
- IVUnjust Enrichment — Against Showtime & Espinoza (alternative). Alleges Showtime benefited from holding Mayweather's funds, from subscriber revenue generated by his fights, and from avoiding the $20M Berto liability. Espinoza personally benefited by landing a job with Haymon's PBC.
Third-party complaint filed March 12, 2026 — After the case moved to federal court (C.D. Cal., Case No. 2:26-cv-02671-GW-MBK), Showtime didn't just defend — they filed their own third-party complaint against Mayweather Promotions LLC, arguing it's MP LLC that should be on the hook, not Showtime.
Showtime's argument centers on the February 22, 2013 Master Agreement between Showtime and Mayweather Promotions LLC. Under that deal, MP LLC was the designated promoter for all Mayweather fights on the network. Showtime says MP LLC controlled where the money went — Showtime sent payments wherever MP LLC directed them. If Mayweather's money ended up in the wrong accounts, that's on his own promotional company.
Represented by James E. Curry and Todd J. Densen of Loeb & Loeb LLP, Showtime is asserting two cross-claims against Mayweather Promotions:
- IContractual Indemnification — Citing Section 13 of the 2013 Master Agreement, Showtime claims MP LLC is contractually required to indemnify and hold Showtime harmless from any claims arising from the promotion of Mayweather's fights — including Mayweather's own lawsuit against them.
- IIEquitable Indemnification — In the alternative, Showtime argues that even without the contract clause, it would be unjust to hold Showtime liable when MP LLC was the entity that controlled how Mayweather's fight proceeds were distributed. Jury trial demanded.
$500M+ across two lawsuits and eleven causes of action. The Rechnitz complaint names specific dollar amounts for each alleged diversion and targets a defendant with a prior federal fraud conviction. The Showtime complaint alleges a two-decade scheme by Al Haymon that Showtime helped enable.
The Rechnitz case targets recent diversions: real estate (Manhattan portfolio, Miami Beach, Las Vegas), a private jet (Gulfstream G-IV), approximately $100M in jewelry. The Showtime case reaches back to the Pacquiao and McGregor mega-fights, alleging $340M+ in career earnings were funneled through Haymon-controlled accounts while financial records conveniently went "missing." Together they paint a picture of a fighter who earned over a billion dollars and alleges multiple people around him were taking from the same pot.
"We have thoroughly reviewed Mr. Mayweather's lawsuit. His claims against our clients are utterly baseless and refuted by substantial documentary evidence including Mr. Mayweather's own correspondence. Our clients intend to vigorously defend against these claims and are confident that once all of the facts are presented in court, not only will our clients be vindicated, Mr. Mayweather's gambling issues, prolific spending habits, monies owed to third party creditors and IRS tax liens and levys, as well as other unseemly behavior, will be exposed and we believe that Mr. Mayweather will be the one paying significant damages to our clients."
Morris Missry, attorney for Rechnitz defendants · via TMZ
A source close to Rechnitz told TMZ that Mayweather's financial issues "date back to at least 2018, years before they were ever involved professionally."
A Paramount/Showtime spokesperson called Mayweather's claims "baseless and lacking in factual merit."
Defendant Stephen Espinoza broke his silence on a YouTube podcast on Feb 7, 2026, saying only: "The lawsuit will take care of itself."
Beyond the two fraud lawsuits, Mayweather is dealing with a wider web of legal and financial issues:
- IRS Lien — $7.3 million — Filed in March 2026 for unpaid taxes from 2018 and 2023.
- Child Support — $1M + $33K/month — Court-ordered payments.
- Defendant in other lawsuits — Mayweather is also a defendant in several cases alleging money owed, some of which include Rechnitz as a co-defendant.