Boxer Floyd Mayweather Jnr sued over US$1.4 million jewellery debt in Las Vegas

PUBLISHED : Wednesday, 05 October, 2016, 10:58am
UPDATED : Wednesday, 05 October, 2016, 10:58am

Retired boxing champion Floyd Mayweather Jnr is accused of stiffing a Las Vegas jewellery company for US$1.4 million of the cost of a diamond-encrusted necklace he bought the weekend after his last fight, according to a lawsuit filed in Nevada state court.

It wasn’t immediately clear whether Mayweather or his legal representatives had been served with the civil lawsuit, filed on September 23 in Clark County District Court in Las Vegas.

Mayweather Promotions chief executive Leonard Ellerbe and Mark Tratos, an attorney in Las Vegas who represents Mayweather in civil cases, didn’t immediately respond to messages.

The Jewelers Inc. said in court filings that Mayweather paid US$1 million when he bought the US$3 million necklace consisting of 72 round-cut diamonds in September 2015, and that he made six subsequent US$100,000 payments.

Each diamond was about three carats, according to the lawsuit.

It alleges that Mayweather hasn’t made a payment since May, and accuses him of breach of agreement and unjust enrichment.

Ellerbe told the Las Vegas Review-Journal that Mayweather had no comment about the lawsuit.

Mayweather, now 39, was listed by Forbes as the world’s highest-paid athlete in 2015, making about US$300 million. He also topped the Forbes list in 2012, at US$85 million, and 2014, at US$105 million.

Estimates were that Mayweather earned a stunning US$220 million for his unanimous decision over longtime rival Manny Pacquiao from the Philippines in May 2015. He was reported to have taken home another US$32 million when he defeated Andre Berto on September 12, 2015, at the MGM Grand arena in Las Vegas.

Mayweather finished his career undefeated, at 49-0 with 26 knockouts.

The lawsuit was the second in 11 years filed against Mayweather over jewellery. Records show that a 2005 civil action filed by another jeweller alleging that he failed to pay US$124,000 for more than 20 pieces of jewellery was settled in 2006. The terms were not disclosed.

A lawyer who represented the jewellery store in that case has retired and didn’t immediately respond to a message.