Boxer Floyd Mayweather, Jr. Sues Over $4 Million Investment Loss
Floyd Mayweather, Jr. (“Mayweather”), a five-division world champion boxer with a 43-0 record, has filed suit in Miami-Dade Circuit Court against his former investment advisers, Jeff Rubin and Pro Sports Financial, Inc., to recover more than $4 million lost in an Alabama real estate investment, allegedly recommended by Rubin.
According to the Complaint, in 2010, Mayweather provided a $4 million loan to Resorts Development Group II LLC and Ronnie Gilley Entertainment LLC, the developers of a gambling resort in Alabama. Mayweather alleges that Rubin advised him that the investment “involved little risk”, but Mayweather has never received any loan payments from the borrowers. The complaint contains claims for negligence and breach of fiduciary duty and requests damages of $4 million, plus statutory interest and lost investment returns.
Investors nationwide who have been the victim of financial fraud, may contact the Florida securities arbitration attorneys at McCabe Rabin, P.A. for a free and confidential consultation by calling toll free at 877.915.4040 or by e-mail to email@example.com.