{"id":409,"date":"2026-05-25T12:11:39","date_gmt":"2026-05-25T12:11:39","guid":{"rendered":"https:\/\/metrotransitreview.com\/?p=409"},"modified":"2026-05-25T12:11:39","modified_gmt":"2026-05-25T12:11:39","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:\/\/metrotransitreview.com\/?p=409","title":{"rendered":"Floyd Mayweather sues notorious NYC money manager in alleged $175M fraud scheme over jewels, jet: ‘The gloves are off’"},"content":{"rendered":"
\n

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

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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

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

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

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

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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

\n<\/div>\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

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

\n<\/div>\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

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Five-time heavyweight boxing champ Floyd Mayweather Jr. is taking a swing at Jona Rechnitz, an ex-con major donor to former Mayor Bill de Blasio, over an alleged $175 million fraud scheme involving jewels and a secret jet sale<\/p>\n","protected":false},"author":1,"featured_media":408,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro"],"yoast_head":"\nFloyd Mayweather sues notorious NYC money manager in alleged $175M fraud scheme over jewels, jet: 'The gloves are off' - Metro Transit Review<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/metrotransitreview.com\/?p=409\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Floyd Mayweather sues notorious NYC money manager in alleged $175M fraud scheme over jewels, jet: 'The gloves are off' - 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