{"id":242990,"date":"2026-05-25T12:10:08","date_gmt":"2026-05-25T12:10:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/242990\/"},"modified":"2026-05-25T12:10:08","modified_gmt":"2026-05-25T12:10:08","slug":"floyd-mayweather-sues-notorious-nyc-money-manager-in-alleged-175m-fraud-scheme-over-jewels-jet-the-gloves-are-off","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/242990\/","title":{"rendered":"Floyd Mayweather sues notorious NYC money manager in alleged $175M fraud scheme over jewels, jet: ‘The gloves are off’"},"content":{"rendered":"

Five-time heavyweight boxing champ Floyd Mayweather Jr. is taking a swing at an ex-con major donor to former Mayor Bill de Blasio <\/a>over an alleged $175 million fraud scheme involving jewels and a secret jet sale.<\/p>\n

The superstar pugilist claims in a new Manhattan Supreme Court lawsuit that Jona Rechnitz \u2014 an ex-mayoral donor who once tried to bribe NYPD cops with hookers \u2014 orchestrated \u201ca multi-year fraudulent scheme\u201d involving real estate, jewelry and his beloved Gulfstream Jet famously emblazoned with \u201cMAYWEATHER\u201d on the fuselage.<\/p>\n

\u201cAs they say, the gloves are off,\u201d Mayweather\u2019s lawyer, Leo Jacobs, told The Post. \u201cThis case is about restoring to our client what is rightfully his.\u201d<\/p>\n

Boxing champ Floyd Mayweather Jr. sits next to Jona Rechnitz at an NBA playoff game in San Francisco in 2022. AP<\/p>\n

Rechnitz, a former top donor to ex-Mayor Bill de Blasio, pled guilty in 2016 for his role in a hooker-filled NYPD corruption scandal. William Farrington<\/p>\n

Rechnitz had spent years cultivating a relationship with Mayweather, who has earned a reported $1 billion during his career but whose high-flying lifestyle has left him cash-strapped at times.<\/a><\/p>\n

In 2024, Rechnitz became the \u201cde-facto\u201d manager of the boxer\u2019s investment, banking and real-estate assets \u2014 before betraying the champ\u2019s trust by diverting his fortune to himself and a broker pal, according to legal documents.\u00a0<\/p>\n

Rechnitz previously pled guilty in 2016<\/a> for his role in the infamous prostitute-packed NYPD corruption scandal<\/a> that also involved private jets<\/a>.<\/p>\n

He had been a top donor to de Blasio \u2014 who called him a \u201cbrother\u201d in emails.<\/a><\/p>\n

Mayweather poses with a stash of cash aboard a private jet in November. Instagram\/Floyd Mayweather<\/p>\n

Mayweather claims the fraud involved at least $100 million of his personal jewelery. Obtained by NY Post<\/p>\n

Mayweather says in his suit that Rechnitz hid his criminal past from him, which has included a separate $17.7 million judgement against the former powerbroker and his pal Ayel Frist, who also is being sued by Mayweather.<\/p>\n

The boxer\u2019s lawsuit demands that Rechnitz pays back the claimed $175 million in losses \u2014 detailing exactly how the alleged jaw-dropping clandestine fraud went down.<\/p>\n

\t\t\t\t\t\t\tStart your day with all you need to know\t\t\t\t\t\t<\/p>\n

\n\t\t\t\t\t\t\tMorning Report delivers the latest news, videos, photos and more.\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\tThanks for signing up!\n\t\t\t\t<\/p>\n

In July 2024, Rechnitz took it upon himself to wire $7.5 million from one of Mayweather\u2019s companies to a Florida LLC owned by his pal Frist, stating it was for an imaginary \u201c12-month investment\u201d that never materialized, according to the suit.<\/p>\n

A year later, Rechnitz schemed to bring roughly $100 million of Mayweather\u2019s jewelry to a pair of Miami dealers, using it as collateral for a $13 million loan from them, court documents claim.<\/p>\n

The boxer\u2019s opulent jewelry collection includes gem-encrusted time pieces. Obtained by NY Post<\/p>\n

Jewelers warn Mayweather they are going to have to start selling items he gave them as collateral for a loan if he can\u2019t pay them back. Obtained by NY Post<\/p>\n

In a text thread with Rechnitz and Mayweather, one of the dealers writes that he will \u201cstart to liquidate the merchandise\u201d if he doesn\u2019t receive payments soon, court docs show.<\/p>\n

\u201cAgreed thx,\u201d Rechnitz responded instantly.<\/p>\n

Mayweather later lamented the predicament in a text, writing, \u201cI fought from a kid to get everything I own, and it\u2019s sad that someone would even put me in this situation.\u201d\u00a0<\/p>\n

Rechnitz convinced Mayweather to sell his beloved jet but then took off with the money, the suit claims. Instagram\/Floyd Mayweather<\/p>\n

In November 2025, Rechnitz then urged Mayweather to execute a bill-of-sale for the jet, but the buyer\u2019s name was left blank, the lawsuit says.<\/p>\n

Mayweather has no idea who ultimately bought it and hasn\u2019t seen a dime from the sale, the filing reads.<\/p>\n

But he claims that \u201cthe proceeds were applied to a Bugatti-related obligation \u2026 with no portion paid to Mr. Mayweather.\u201d\u00a0<\/p>\n

Other shocking allegations of Rechnitz machinations include him ordering a lawyer to transfer a $15 million real-estate settlement to his friend\u2019s Florida shell company and that he siphoned half of an allegedly illicit $16 million loan to himself.<\/p>\n

A January email from Rechnitz allegedly shows that his nefarious scheme was ready to continue with 20 percent of nearly $4 million in distributions from Mayweather\u2019s Manhattan real-estate portfolio going directly to him.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Five-time heavyweight boxing champ Floyd Mayweather Jr. is taking a swing at an ex-con major donor to former…\n","protected":false},"author":2,"featured_media":242991,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[54673,94932,4327,57,9,56,63,65,64,26063,89376,58],"class_list":["post-242990","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york-city","tag-floyd-mayweather","tag-jona-rechnitz","tag-manhattan-supreme-court","tag-metro","tag-new-york","tag-ny","tag-nyc","tag-nyc-headlines","tag-nyc-news","tag-nypd-corruption-scandal","tag-private-jets","tag-us-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/242990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=242990"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/242990\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/242991"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=242990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=242990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=242990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}