Mike Tyson's $50 Million RICO Lawsuit

Mike Tyson and Ric Flair have filed a $50 million lawsuit against their former cannabis business partners, alleging a “RICO conspiracy.”

The lawsuit targets former Carma executives Chad Bronstein (ex-President), Adam Wilks (ex-CEO), and Nicole Cosby (ex-Legal Officer), along with shareholder James Case. Tyson and Flair allege that while they were busy building their Tyson 2.0 and Ric Flair Drip brands, these executives were using the company as a “personal piggy bank”—funneling over $1 million into private jets, yacht maintenance, and home renovations. The lawsuit further alleges that the trio illegally sold off licensing rights they didn’t own and engaged in secret kickback schemes. However, the defendants aren’t backing down. Their attorneys told Front Office Sports that the claims are “meritless fiction” and a “shakedown,” promising to beat the lawsuit in court.

Reaction

"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," lawsuit

"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," Jonathan Cyrluk (attorney for Bronstein and Cosby)

"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. We will fight these meritless allegations – both the facts and the law are squarely on our side," Terry Campbell (attorney for Wilks)

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