Originally posted on AllHipHop:

(AllHipHop News) The once Heavyweight titan Mike Tyson has a history of being the victim of financial exploitation (read: Don King). But those days are over as Mike Tyson has filed a suit against Live Nation-owned financial services firm, SFX Financial Advisory Management Enterprises for embezzlement.

[ALSO READ: Mike Tyson Warns 50 Cent About Boxing World]

According to the suit, Tyson claims that one of SFX’s advisors embezzled over $300,000 and cost him millions of dollars in losses. The lawsuit also states that the Live Nation-owned financial services firm has not provided the former heavyweight champion or his wife with a detailed report of their losses. The lawsuit asserts that due to the embezzlement, Iron Mike was not able to get out of bankruptcy and thus turn down lucrative contract offers. Here is a direct quote from the lawsuit:

“Defendants did not secure, protect, safeguard and appropriately apply…

View original 178 more words

About these ads

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s