Mike Tyson and Ric Flair have teamed up to sue cannabis company Carma HoldCo Inc.
The civil lawsuit is accusing the company and its former executives Chad Bronstein, Adam Wilks and Nicole Cosby of criminal wire fraud, embezzlement, money laundering, extortion and securities fraud.
“Throughout their time at CARMA, Bronstein and Wilks treated CARMA as their own personal piggy bank, using more than $1 million to pay for unauthorized personal travel on private jets, costs associated with Bronstein’s personal yacht, renovations to Bronstein’s personal residence, a mortgage payment for Wilks’ personal residence, and lavish entertainment expenditures for Wilks, including exorbitantly priced meals and travel expenditures, as well as excessive and unapproved compensation and bonuses,” states the court filing.
Tyson and Flair’s lawyers have requested a jury trial and are seeking $50 million in damages.
“These claims are as credible as the people they come from — in short, the allegations are without substance. This is nothing more than an attempt to spit out an earful of salacious headlines and attempt to coerce my client into paying money to them when he did nothing wrong,” Adam Wilks’ lawyer said in a statement.
If the name Chad Bronstein sounds familiar that is because he founded Real American Freestyle (RAF) with Terri Francis and Hulk Hogan.
Flair is claiming that Bronstein negotiated his sponsorship but wasn’t Flair’s representative.
