In a shocking turn of events, boxing legend Floyd Mayweather has been arrested in connection with an alleged $402 million scam that has rocked the sports and business communities. The 47-year-old former champion, known for his undefeated boxing record and lavish lifestyle, was taken into custody late Tuesday evening after a months-long federal investigation uncovered what authorities are calling “one of the most elaborate financial schemes involving a sports celebrity.”

While details remain under wraps due to the sensitive nature of the case, early reports suggest that Mayweather was allegedly involved in a series of fraudulent investment operations that promised high returns to investors, but ultimately collapsed in what is being described as a massive Ponzi scheme.

The news has sent shockwaves through the boxing world, prompting reactions from fellow fighters, fans, and analysts. But perhaps the most talked-about response came from Gervonta “Tank” Davis, one of Mayweather’s former protégés and a current lightweight boxing superstar.

Gervonta Davis Breaks His Silence

In a surprise Instagram Live session on Wednesday morning, Gervonta Davis addressed the situation for the first time, visibly emotional as he spoke about his complicated relationship with Mayweather.

“I don’t even know what to say, man,” Davis began. “It’s crazy to see someone you looked up to — someone who was like a big brother, a mentor — in this kind of situation. I’m praying it ain’t true.”

Davis, who was signed to Mayweather Promotions early in his career, has had a rocky relationship with Floyd in recent years. Despite their public falling out, Davis admitted that the news hit him hard.

“We had our ups and downs, yeah. But at the end of the day, I wouldn’t be where I’m at without some of the lessons I learned from him — in and out the ring,” he said. “This ain’t about beef right now. This is about a man’s life, a legacy, and a lot of people who might have been hurt in the process.”

The Rise and Fall of “Money” Mayweather?

Floyd Mayweather, nicknamed “Money” for his extravagant displays of wealth, retired with a perfect 50-0 record and reportedly earned over a billion dollars during his career through fights, endorsements, and business ventures. However, rumors about mismanaged funds and shady business dealings have circulated for years.

According to the Department of Justice, the alleged scam involved convincing investors — many of whom were international business figures and celebrities — to buy into a luxury real estate and digital currency venture that promised returns as high as 30% annually. Authorities say the operation used early investors’ money to pay off newer investors in classic Ponzi fashion.

Mayweather’s legal team has issued a statement denying all allegations, claiming the boxer is being unfairly targeted due to his fame and financial status.

“Mr. Mayweather has always conducted his business transparently and legally,” said his attorney, Marcus Feldman. “We are confident that the truth will prevail.”

The Boxing World Reacts

Aside from Davis, other figures in boxing have also commented on the arrest.

Former rival Manny Pacquiao tweeted, “This is sad to hear. Hoping it’s not true. Prayers for all affected.”

Promoter Eddie Hearn said during a press conference, “This could be one of the biggest scandals in sports history if the allegations hold up. It’s not just about Floyd — it’s about the trust fans and investors place in public figures.”

Meanwhile, fans have taken to social media to express a mix of disbelief, disappointment, and conspiracy theories.

What’s Next?

Floyd Mayweather is currently being held without bail and is expected to appear in federal court later this week. If convicted, he could face decades in prison and be forced to pay back hundreds of millions in restitution.

As for Gervonta Davis, the situation seems to have reopened old wounds. “I just hope whatever happens, it brings the truth out — and peace,” he said before ending his livestream. “A lot of people loved and trusted him, man. It’s just heartbreaking.”

Whether Mayweather is ultimately guilty or innocent, one thing is clear: the case will dominate headlines for weeks to come, and its fallout could forever change how we view one of boxing’s most iconic — and now most controversial — figures.