Mike Tyson accuses former partners of entering into unauthorized agreements involving the use of his image in cannabis projects

Former boxer Mike Tyson and wrestling icon Ric Flair have filed a federal lawsuit in the United States accusing former partners and executives of fraud in celebrity-associated cannabis branding initiatives. The information was disclosed by the website MJBiz Daily.

The lawsuit, filed in December in the District Court of Illinois, spans 76 pages and lists former executives of Carma as defendants, a company responsible for developing and licensing cannabis brands linked to public figures.

Allegations of fraud and mismanagement

According to the lawsuit, the accused individuals would have conducted unauthorized agreements involving the use of Tyson and Flair's image, as well as entered into parallel contracts with licensed cannabis manufacturers and operators without the knowledge or consent of those involved. 

The legal document alleges electronic fraud, embezzlement, money laundering, and contractual violation.

Among the allegations, it is stated that executives would have created alternative business structures to commercially exploit Ric Flair's image, selling stakes in these companies without passing on the owed amounts to the wrestler. The lawsuit also mentions high salary and bonus payments to the defendants, as well as the use of corporate resources for personal purposes.

Amounts involved and companies mentioned

The lawsuit seeks over $50 million in damages, in addition to costs and attorney fees. Also listed as a plaintiff is the hemp company LGNDS, which acquired rights to use Mike Tyson's image for consumer products.

According to the lawsuit, Carma, also known as Tyson 2.0, marketed products such as cannabis flowers, pre-rolls, vape cartridges, and hemp-derived items. At the time of publication of the article, the defendants had not formally responded in court.

With information from MJBiz Daily.