Miami Jeweler Sues Floyd Mayweather Jr. for Nearly $4 Million Over Unpaid Jewelry

A Miami-based jeweler has filed a federal lawsuit against retired boxing champion Floyd Mayweather Jr., claiming that the sports icon owes him nearly $4 million for luxury watches and diamond jewelry purchased in 2021.

The jeweler, Leonard Sulaymanov, alleges that Floyd Mayweather and his company, The Money Team (TMT), engaged in fraudulent practices and failed to pay the full amount for the high-end items.

The lawsuit, filed on August 23 in Miami federal court, accuses Floyd Mayweather of violating the Racketeer Influenced and Corrupt Organization (RICO) Act, along with several other serious charges including fraud, civil conspiracy, breach of contract, unjust enrichment, and civil theft.

Also named in the lawsuit is rapper Tyga (real name Michael Ray Stevenson), who is accused of not paying for a Rolex watch.

According to the lawsuit, Sulaymanov, who owns Lenzo & Co., claims he sold Mayweather a collection of luxury items during a series of meetings at the Fontainebleau Miami Beach in late June 2021.

The items reportedly included 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.

The meetings were allegedly organized by Mayweather’s agent, Jona Rechnitz, though Rechnitz is not named as a defendant in the lawsuit. Sulaymanov says he received only $267,000 in two down payments before Mayweather left Miami.

During the meetings, Floyd Mayweather’s team allegedly asked Sulaymanov to hand over his phone to ensure privacy, but the jeweler claims he secretly used another phone to document the transaction and the cash payments he received.

The lawsuit states that Mayweather was seen wearing the diamond necklace and ring as he left Miami in his TMT van and that he later posted a photo wearing the necklace with his agent.

Two weeks after the initial meetings, Sulaymanov alleges he traveled to Las Vegas at Rechnitz’s request to meet with Mayweather and Tyga. He claims he brought ten Rolex Presidential Anniversary watches, a Rolex Day-Date 40, and a Richard Mille watch as requested.

At this meeting, Tyga allegedly agreed to pay $79,000 for a Rolex Day-Date, while Mayweather made additional purchases. However, Sulaymanov says Mayweather did not pay off the existing balance, misleading the jeweler into believing they would continue doing business together.

As time passed without receiving any further payments, Sulaymanov became concerned and began exchanging text messages with Rechnitz, seeking information on when the payment would be made.

The jeweler has included screenshots of these text messages in the lawsuit, which he claims confirm that he is owed $1.8 million for the watches. Despite written promises from Mayweather’s team to wire the funds, Sulaymanov says he has not received any payments.

In addition to the $1.8 million owed for the watches, the lawsuit claims Mayweather owes an additional $2 million for the diamond ring and necklace. Sulaymanov is seeking compensation for the unpaid items and damages for the alleged fraudulent actions taken by Mayweather and his associates.