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Tyga and Floyd Mayweather Jr. have been sued by a Miami-based jeweler, Leonard Sulaymnanov. The lawsuit, lodged on August 23, 2024, against the rapper and retired boxing champion, alleged violations of the Racketeer Influenced and Corrupt (RICO) Act, fraud, breach of contract, and more. The lawsuit also names Mayweather's company, The Money Team.
According to the Miami New Times, the celebrities are accused of carrying out a scheme to defraud the jeweler Sulaymanov, the owner of Lenzo& Co. The latter claims to have been robbed of nearly $4 million worth of luxury watches and jewelry.
According to his lawyer, Tyga and Mayweather acquired several high-end items under false pretenses only to avoid paying in full. The lawsuit states,
"This action arises out of a pattern of predatory, unfair, improper, fraudulent, and unscrupulous practices through which defendants used the plaintiff's reputation, business, and inventory to systemically steal and convert the plaintiff's watches and jewelry to their own without paying the full and fair price."
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Tyga and Mayweather accused of "improper, fraudulent" practices
The lawsuit involves a series of transactions between Sulaymanov, Mayweather, and Tyga that began in June 2021. The complaint alleges Sulaymanov met Mayweather through the boxer's associate, Jona Rechnitz, All Hip Hop reported.
The jeweler was then invited to present his collection of high-end items to Mayweather. The items included luxury watches and diamond jewelry, and the meetings took place at Fontainebleau Miami Beach.
Mayweather reportedly agreed to purchase several luxury items, including a yellow-gold Audemars Piguet watch, two Richard Mille watches, a Patek Philippe watch, a rose-gold Rolex Presidential Day-Date, a diamond ring, and a diamond necklace. Yet, the jeweler claims that while he is owed a whopping $4,151,157, he only received about $267,000 in two down payments.
Miami New Times further revealed that the lawsuit claims that just two weeks after their initial meeting in Miami, Sulaymanov was slated to meet with Tyga and Mayweather in Los Angeles. During this subsequent meeting, the former reportedly agreed to buy a Rolex Day-Date for $79,000.
Nonetheless, no payment was made for the watch, and while Sulaymanov was allegedly led to believe that further payments were imminent, the lawsuit contends that it never happened. The complaint alleges,
"However, as days passed and no wires were being received, Plaintiffs got concerned and started exchanging text messages with Defendants through their agent, Rechnitz, about when payment could be expected."
According to the complaint, Tyga and Mayweather, the defendants, executed a scheme to acquire luxury items-- all under the pretense of purchasing them. They ultimately failed to pay the agreed-upon figures, a move which Sulaymanov alleges is part of a broader pattern of fraudulent moves.
He also claims that such patterns were engineered to exploit his business and reputation, all for personal gain.
Legal violations against the accused range from RICO Act violations, fraud, and civil conspiracy to breach of contract, unjust enrichment, and civil theft. The RICO Act was initially designed to combat organized crime.
As such, it allows for civil lawsuits against individuals or organizations engaging in racketeering. In this case, Sulaymanov alleges that the defendant's actions constitute a quasi-criminal money laundering scheme.
The lawsuit then details how the defendants, Tyga and Mayweather, allegedly ceased the watches and jewelry, after which they called for formal paperwork, boxes, and warranties.
They then reportedly refused to pay the full price or claimed the items were gifted to them due to their celebrity status. The complaint points out the similar lawsuits that Mayweather has been dealing with in recent years, Miami New Times reveals.
Sulaymanov is seeking over $4 million in compensation due to damages done for the unpaid merchandise. It also covers damages for the humiliation, embarrassment, and mental anguish he claims to have suffered. The lawsuit also seeks punitive damages, which means punishment for the defendants, to negate similar conduct in the future.
Notably, this isn't the first time Tyga and Mayweather have landed in hot water due to legal issues. The former has been named in multiple lawsuits over unpaid debts and contracts, while Mayweather has been sued in the past for alleged financial misconduct.
Tyga and Mayweather have yet to comment on the lawsuit. Legal proceedings are expected to unravel in the coming months, which means both sides are likely to present their arguments in court.
