Ric Flair & Mike Tyson sue cannabis company for alleged embezzlement scheme
Mike Tyson & Ric Flair are teaming up together in court.
The New York Post reported on Tuesday that the WWE Hall of Famer and boxing legend filed a lawsuit in Illinois accusing executives Chad Bronstein, Adam Wilks, and Nicole Cosby of former cannabis licensing company Carma HoldCo Inc. of criminal wire fraud, money laundering, extortion, and securities fraud. They are seeking $50 million in damages.
“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,” the filing obtained by the Post said.
Wilks denied the allegations in a statement.
“These claims are as credible as the people they come from — in short, the allegations are without substance,” Wilks’ attorney Terry Campbell said. “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.”
Bronstein and Cosby’s attorney, Jonathan Cyrluk, also denied the accusations 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. My clients won’t be bullied and are prepared to knock out this meritless lawsuit in court,” the statement reads.
Carma HoldCo previously filed a lawsuit against Bronstein after he had left the company, accusing him and Cosby of stealing the “Real American Beer” concept featuring Hulk Hogan.
Bryan Rose is an editor from California that has been covering professional wrestling for well over a decade. He officially joined F4WOnline as an editor in 2017.