Mike Tyson and wrestling icon Ric Flair are suing their former cannabis business partners for allegedly stealing millions.
Mike Tyson and Ric Flair’s weed business has gone up in smoke.
The boxing legend and wrestling icon filed a $50 million lawsuit against their former business partners. They claim the executives treated their cannabis company, Carma, like a personal ATM.
Tyson and Flair teamed up with Carma to sell “Tyson 2.0” and “Ric Flair Drip” cannabis products. But things went bad fast.
The lawsuit says Chad Bronstein, Adam Wilks, Nicole Cosby and James Case ripped them off. The 76-page court filing accuses the four of fraud, wire fraud and money laundering.
“Bronstein and Wilks treated CARMA as their own personal piggy bank,” the lawsuit says. They spent over $1 million on private jets, yacht costs and home renovations.
Bronstein used company funds for his yacht and home repairs. Wilks paid his mortgage with Carma cash. They also blew money on expensive meals and travel.
The lawsuit claims Wilks had a secret deal with vape maker DomPen. He got kickback payments for letting them use Carma’s stuff without permission.
Bronstein and Cosby’s lawyer, Jonathan Cyrluk, fired back hard.
“The complaint is fiction dressed up as a lawsuit,” Cyrluk said. “Before filing, the plaintiffs tried to intimidate my clients with settlement demands that read more like a shakedown.”
Tyson and Flair want a jury trial. They’re asking for over $50 million in damages and legal fees.
Mike Tyson has been at the forefront of marijuana reforms. Earlier this month, Trump directed the Justice Department to move marijuana from Schedule I to Schedule III under the federal Controlled Substances Act
“I’m trying to have it rescheduled from a level I to III, you know, for medical researchers, open-space banking act, and plus there’s over 500,000 people who are legally in the cannabis business that’s employed. They can’t get open loans, they can’t get any accounts and we’re trying to stop that. People are going to consume anyway, so why not consume safely, right? During Prohibition, people drank and a lot of people died and got sick and so they made it safe and then they made it legal and we’re actually doing the same thing with cannabis.”