According to a new report from the New York Post, WWE Hall of Famer and boxing legend Mike Tyson submitted a lawsuit related to their former cannabis licensing company, Carma HoldCo Inc.
The report notes that a 76-page lawsuit has been filed in Illinois on behalf of Flair and Tyson by their lawyers, accusing former Carma executives Chad Bronstein, Adam Wilks and Nicole Cosby of a RICO conspiracy involving criminal wire fraud, embezzlement, money laundering, extortion and securities fraud.
These claims were not filed in civil court and would not require jail time. However, the lawsuit seeks $50 million in damages, including legal fees. The plaintiffs’ lawyers have requested a jury trial.
A court filing obtained by the New York Post reads, “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.”
Flair and Tyson have acquired New York-based law firm, Willkie Farr & Gallagher LLP to represent their interests in the lawsuit.
In a statement given to Front Office Sports, Wilks denied allegations made in the lawsuit that included RICO predicates and attorney Terry Campbell said the following to the publication:
“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.”
Jonathan Cyrluk said in a statement, “the complaint is fiction dressed up as a lawsuit. Before filing, the plaintiffs tried to intimidate my clients with settlement demands that read more like a shakedown than a legal claim – demanding millions of dollars and attempting to force others to surrender their Carma shares.”
Carma HoldCo had previously filed a lawsuit against Bronstein after his exit from the company, alleging their former president, along with Cosby, the former chief legal and licensing officer stole Hulk Hogan’s Real American Beer brand idea.