Originally posted on Hip Hop News, Interviews and Music: Allhiphop.com:
(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