Mike Tyson has sued SFX Financial Advisory Management Enterprises, saying that one of its advisors embezzled more than $300,000 from him and cost him millions of dollars in potential future earnings. The lawsuit claims that although SFX has returned some of the money, it is still well short of returning what it embezzled. Tyson is seeking more than $5 million in damages, claiming breach of fiduciary duty, negligent hiring, unjust enrichment and other charges. “Defendants did not secure, protect, safeguard and appropriately apply the Tysons’ finances for their intended purposes,” the former boxer’s lawsuit states, “but instead misappropriated said funds for the benefit and enrichment of SFX/Live Nation.” SFX Financial Advisory Management Enterprises is owned by Live Nation. Live Nation Entertainment Inc. told the Associated Press that it had not yet been served with the lawsuit and thus could not comment on it. [LA Times]

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Comments (11)

  1. Posted by Guest | February 22, 2013 at 4:20 PM

    I find this post to be very troubling, and I am not happy. Where is Tyson going to be able to get his sleep? His money?

  2. Posted by Guest | February 22, 2013 at 4:25 PM

    These advisers with their primitive skills, they didn't stand a chance.

  3. Posted by Tattoo on Face Fan | February 22, 2013 at 4:32 PM

    Mike Tyson makes a hell of a lot more sense than Shazar.

  4. Posted by Mrs_Slocombe | February 22, 2013 at 5:05 PM

    I’d pay $5 Million to here Mike Tyson say “Fiduciary Duty”

    –Don King

  5. Posted by Foghorn Leghorn | February 22, 2013 at 5:19 PM

    I'd pay $10 million to HEAR him say "Fiduciary Duty"

    -Evander Hollyfield

  6. Posted by Mrs_Slocombe | February 22, 2013 at 5:28 PM

    touché, its must have been the three martinis and all that cough syrup at lunch….or the public education.

  7. Posted by Pleadings (excerpt) | February 22, 2013 at 5:40 PM

    WHEREAS I'll sue you in the ass, you punks. You can't touch me, you're not man enough. I'll sue your asshole alive, you bitch. Come say it to my face and I sue you in front of everybody. You can't last two minutes in my world bitch. Look at you, you're scared now, you ho. Scared like a little white pussy. Scared of the real man. I'll sue you till you love me.

  8. Posted by Guest | February 23, 2013 at 12:07 AM

    The advisor said he had Mike's cunsent.

  9. Posted by Mike Larson | February 24, 2013 at 10:09 AM

    <img src="http://Now.apparelbookstore.info/rest.jpg"/&gt; haha, 10 million is too much for that.

  10. Posted by Stu Diligence | February 25, 2013 at 11:49 AM

    It's Holyfield but thanks for the spell check

  11. Posted by Ugh | February 25, 2013 at 1:46 PM

    You're really on a roll.