TMZ Sports was the first to report that Floyd Mayweather is suing Showtime and Stephen Espinoza claiming he is owed millions due to financial fraud.
The lawsuit filed in California alleges that Showtime misappropriated funds as part of a “long-running and elaborate scheme of financial fraud” by Al Haymon. In addition, Mayweather claims Espinoza was a part of the scheme.
Mayweather claims that funds from some of his biggest fights were diverted from him and into an account(s) managed by Haymon. When Mayweather hired new management, they were not able to access the books for Showtime according to the lawsuit per TMZ.
Mayweather is suing for breach of fiduciary duty, civil conspiracy to commit fraud, conversion, and unjust enrichment. There are always two (or more) sides to the story so we shall see what Showtime has to say about this lawsuit.
Mayweather is seeking $340 million which he claims Haymon took from him over the time he was an advisor for the boxer. He is also seeking punitive damages.
MPO does not have the lawsuit as of this writing, but will so shortly.
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