Jas Mathur, chief executive of Manny Pacquiao Promotions, has filed a lawsuit in California Superior Court against Jona Rechnitz, the former business manager to Floyd Mayweather Jr., and Rechnitz’s father, Robert Rechnitz, seeking damages in excess of $8.3 million. The filing was announced Friday in a release distributed by BZA PR on behalf of Manny Pacquiao Promotions.
The complaint asserts claims of fraud, breach of fiduciary duty, breach of a prior settlement agreement, conversion of assets and theft over a period the release describes as spanning nearly a decade. Mathur is also seeking punitive damages, prejudgment and post-judgment interest, and attorney’s fees and costs. He is represented by Jeff Chemerinsky and Andrew Choi of Kendall Brill & Kelly LLP.
According to the release, the complaint accuses Rechnitz of running “a calculated and relentless playbook of lies, broken promises, and outright theft,” siphoning cash, luxury assets and business opportunities from Mathur while acting as his fiduciary.
The most specific allegation in the release concerns watches. Rechnitz is accused of using a blank check signed by Mayweather to take five high-value timepieces belonging to Mathur, claiming the watches were being purchased on Mayweather’s behalf, then pawning them. The complaint alleges Rechnitz later admitted in writing that Mayweather never authorized the check, and that the watches were pawned to cover Rechnitz’s own separate debts to Mayweather. The release states Mathur has since spoken with other jewelers who described the same arrangement being used on them.
The complaint traces the dispute back to at least 2019. After an earlier round of disagreements, according to the release, Rechnitz signed a settlement agreement intended to resolve all outstanding claims between the two men, then failed to meet his obligations under it. The watches were allegedly taken during that period, in what the complaint characterizes as a violation of both the settlement and Rechnitz’s fiduciary duties.
The release also describes representations Rechnitz allegedly made about money owed to Mathur from a trust account. Rechnitz is said to have shown Mathur Bank of America statements for the trust and logged into the account in front of him on multiple occasions, citing repeated trips to New York to arrange a transfer that never came. The trustee is identified in the release as Alexander Seligson, a New York attorney also named as a defendant in Mayweather’s separate case against Rechnitz.
When Mathur pressed for payment, the complaint alleges, Rechnitz directed a commercial lender to seize and liquidate Mathur’s $1 million Ferrari in retaliation.
Robert Rechnitz is named as a defendant. The release alleges he telephoned Mathur to commit to specific payment dates, told Mathur the money owed was being released through a New York real estate developer, personally guaranteed those funds and asked Mathur for a few days’ patience while the transfer was completed.
The complaint also names Ayal Frist and his entity, Frist Apex Ventures, describing the firm as Mayweather’s loan-out entity and as an entity that appears on Mayweather’s fight agreements, including those tied to the Mike Tyson and Pacquiao bouts. Funds owed to Mathur under the settlement were allegedly routed through Frist Apex Ventures, as were monies designated for the fights themselves. The release alleges Rechnitz had previously used similar entities, naming Levin Prado and TYH 26 LLC.
The complaint was not attached to the release and no case number was provided. Neither Jona Rechnitz nor Robert Rechnitz has publicly responded to Mathur’s filing. The release itself notes that the defendants have the right to respond and that nothing in it should be read as a determination of liability.
The allegations overlap heavily with Mayweather’s own $175 million lawsuit, filed in New York state court in May. That complaint names Rechnitz, Frist, Frist Apex Ventures and Seligson, and alleges Rechnitz spent years building trust with Mayweather before becoming his de facto money manager and banking intermediary. Among the claims reported by ESPN: a $7.5 million wire for an investment that never happened, a $15 million realty settlement transferred without authorization, and nearly $100 million in Mayweather’s jewelry pledged to two Miami jewelers for $13 million. Mayweather’s attorney, Leo Jacobs, said in a statement that the conduct alleged demands a full judicial accounting.
Morris Missry, the attorney representing the defendants in that case, told ESPN the claims are “utterly baseless” and said they are contradicted by documentary evidence including Mayweather’s own correspondence. Missry added that his clients intend to defend the case and that he believes Mayweather will end up paying damages to them. Rechnitz has separately pushed back publicly, arguing that Mayweather’s financial problems predate their business relationship.
Mayweather’s public position on Rechnitz was different a year ago. Speaking at The Real Deal’s 2025 New York forum with Frist beside him, Mayweather said, according to The Real Deal, “Jona is my friend,” and said the two would continue doing business.
Rechnitz pleaded guilty in 2016 to conspiracy to commit honest services wire fraud for directing bribes to NYPD officials, then cooperated with federal prosecutors in three corruption cases. He did not serve prison time. The Mathur release argues the current allegations mirror that earlier conduct.
The litigation has already reshaped the fall boxing calendar. Netflix announced the Mayweather-Pacquiao rematch in February for September 19 at the Sphere in Las Vegas. The promotion then absorbed a dispute over whether the bout was a professional fight or an exhibition, followed by Mathur’s breach of contract allegations in April, a date change to September 25, and finally an indefinite postponement announced June 26. Pacquiao’s camp cited “a volatile mix of federal lawsuits, scheduling overbooks, and financial gridlock completely surrounding the Mayweather camp.”
Mathur confirmed the postponement in an interview with The Ring. “It’s actually being postponed from September,” he said, pointing to the lawsuits and legal issues around the promotion, and specifically to CSI Sports Events, which had sued Mayweather days earlier. Mathur told The Ring that Pacquiao’s team was working on an alternate opponent while remaining under contract for the Mayweather bout.
Mathur has also said the rights to the rematch were sold twice. Speaking to The Ring, he described a contract structure in which EverWonder had signed Mayweather for October while CSI believed it had bought his comeback fight for November, both listing Pacquiao as the opponent. “The same fight was double sold,” Mathur said, in comments reported by boxingnews.com. In an appearance on the YouTube program Inside The Ring, Mathur said Rechnitz sold the rights to two parties and took payment from both, and separately took an advance on Mayweather’s purse from a third-party lender. The release attributes the rematch’s collapse to Rechnitz’s conduct, a causal claim that goes further than what Pacquiao’s camp said publicly in June.
The CSI dispute had immediate consequences beyond the Pacquiao fight. Mayweather’s June 27 exhibition against Greek kickboxer Mike Zambidis in Athens was called off after CSI sought an emergency injunction, with Mayweather’s attorney telling the Southern District of New York the bout could not proceed while the case was open. CSI alleges it paid Mayweather $4.65 million for exclusive promotional rights to the Tyson and Pacquiao bouts.
Mayweather’s docket has continued to grow on both sides. He is the plaintiff in a $340 million suit against Showtime Networks and former Showtime Sports president Stephen Espinoza, filed in February. He is also a defendant in two felony counts in Clark County, Nevada, for theft and passing a check with intent to defraud, tied to a $200,000 Audemars Piguet watch purchased from the Las Vegas resale boutique Gold and Beyond. Prosecutors allege he provided the check “knowing that the check would not be paid when presented,” according to court records obtained by ESPN. His attorneys have described the matter as a civil dispute. A hearing is scheduled for September.
Mayweather is 50-0 and has not fought a sanctioned professional bout since stopping Conor McGregor in 2017. Pacquiao, 62-8-3, last fought in July 2025, drawing with then-WBC welterweight champion Mario Barrios. Their 2015 meeting generated 4.6 million pay-per-view buys.
