In a stunning revelation that has sent shockwaves through the boxing and entertainment world, Floyd Mayweather Sr., the father of legendary boxer Floyd Mayweather Jr., has finally spoken out about his son’s alleged involvement in a $402 million fraud scandal that has reportedly left the former pound-for-pound king on the brink of bankruptcy. The explosive comments from Mayweather Sr., who has often had a tumultuous relationship with his son, come after months of speculation about Floyd Jr.’s financial troubles and legal woes.
Floyd Mayweather Jr., the undefeated 50-0 boxing icon known for his lavish lifestyle and nickname “Money,” has long been celebrated as one of the highest-earning athletes in history, amassing over $1 billion throughout his career through blockbuster fights against the likes of Manny Pacquiao and Conor McGregor. However, recent reports have painted a grim picture of his financial state, alleging that Mayweather Jr. is facing a massive fraud lawsuit tied to a cryptocurrency scheme he promoted in 2022. Sources claim that the scam, which promised investors astronomical returns, defrauded thousands of people out of $402 million before collapsing, leaving Mayweather Jr. as the primary target of a class-action lawsuit.
For months, Mayweather Jr. has remained silent on the allegations, continuing to flaunt his wealth on social media with posts of private jets, luxury cars, and stacks of cash. But now, his father, Floyd Mayweather Sr., a former boxer and longtime trainer, has broken his silence in an emotional interview with The Boxing Insider. “I told Floyd he was messing with the wrong stuff,” Mayweather Sr. said, his voice heavy with frustration. “All this crypto nonsense—I warned him it was gonna bite him in the ass. Now look at him—he’s broke, he’s got nothing left, and he’s too proud to admit it. It breaks my heart to see my son like this.”
The allegations of fraud stem from Mayweather Jr.’s endorsement of a cryptocurrency called “MoneyCoin,” which he heavily promoted on social media in 2022, encouraging fans to invest with promises of “guaranteed returns.” The coin’s value skyrocketed initially, but by early 2023, it crashed to zero, leaving investors devastated. A class-action lawsuit filed in Miami federal court accuses Mayweather Jr. of knowingly promoting a Ponzi scheme, with plaintiffs claiming he pocketed $50 million in fees while misleading his followers. If found guilty, Mayweather Jr. could be forced to pay $402 million in damages, a sum that insiders say he no longer has the liquidity to cover.
Compounding the fraud allegations are reports of Mayweather Jr.’s extravagant spending habits catching up with him. Sources close to the boxer claim that his fortune has dwindled due to failed business ventures, including a string of unprofitable strip clubs in Las Vegas, and a $100 million tax lien from the IRS that he reportedly settled in 2024 by liquidating several properties. “Floyd’s been living beyond his means for years,” a former associate told TMZ. “He thought the money would never run out, but now he’s selling off his car collection and his Miami mansion just to stay afloat. He’s essentially bankrupt.”
The boxing community has been quick to react to the bombshell claims. On X, fans have been relentless, with one user writing, “Floyd always called himself ‘Money,’ but now he’s got none left—karma for scamming his fans!” Another added, “Mayweather Sr. spilling the tea like this is wild. Floyd Jr. needs to come clean and stop pretending he’s still rich.” Meanwhile, former rival Manny Pacquiao, who lost to Mayweather in their 2015 mega-fight, offered a more sympathetic take, telling ESPN, “I hope Floyd gets through this. He’s a great fighter, but money can be a dangerous thing if you don’t manage it right.”
Mayweather Sr.’s comments also shed light on the fractured relationship between father and son, which has been strained for years due to professional and personal disagreements. “I tried to help him, but he don’t listen to me,” Mayweather Sr. continued in the interview. “He thinks he knows everything, but now he’s in too deep. I just hope he can find a way out of this mess before it’s too late.” The 72-year-old trainer also revealed that he hasn’t spoken to his son in over six months, adding a layer of personal drama to the unfolding scandal.
As for Mayweather Jr., he has yet to respond directly to his father’s comments or the fraud allegations. However, a cryptic post on his Instagram Stories this morning—a photo of him holding a stack of cash with the caption “Still Winning”—has only fueled speculation that he’s in denial about his financial situation. Legal experts say the fraud lawsuit could drag on for years, but if the plaintiffs win, Mayweather Jr. could face not only financial ruin but also significant damage to his legacy as one of boxing’s greatest champions.
The fall from grace for Floyd Mayweather Jr. is a stark reminder of the pitfalls of fame and fortune. Will the boxing legend find a way to rebuild, or is this the end of the “Money” era as we know it? The world is watching as this saga unfolds. What do you think about Mayweather Sr.’s revelations? Share your thoughts in the comments below!
