Who is Leonard Sulaymanov, a luxury watch dealer who is suing Floyd Mayweather for $4 million?

Floyd Mayweather‘s insatiable desire for a lavish lifestyle has landed him in hot water. After rumors that he is being held in Dubai over unpaid dues, Mayweather is at the center of yet another controversy over non-payment of dues. This time in his own country. Miami jeweler Leonard Sulaymov has filed a lawsuit against Floyd Mayweather for allegedly not paying dues worth $4 million for the purchase of multiple jewelry and watches, dating back to June 2021.

Interestingly enough, even the hip-hop artist Tiger has been dragged into the lawsuit. The lawsuit begs the question: Is Mayweather’s extravagant lifestyle fueled by unpaid debts? Will Mayweather be able to win the case? So without further ado, let’s get into the details of the lawsuit and the allegations leveled against the 50-0 boxer.

Leonard Sulaymanov: The owner of Lenzo and Co. Who is he?

Leonard Sulaymanov is a watch and jewelry collector/dealer from Miami. He owns an online marketplace called Lenzo and Co. who “buys, sells and trades the best pre-owned and never used luxury watches in the world”. According to the company’s website, Lenzo and Co. was founded by a community of watch enthusiasts who used to share photos of beautiful watches, but later transformed into a platform that buys, sells and trades watches “watches and other valuables”.

Now, the businessman’s encounter with a Mayweather associate in Miami Beach in late June 2021 has turned into a dispute that has lasted more than three years. Let’s take a look at the details of the lawsuit to understand the seriousness of the charges against the five-division champion.

Tyga also played a role in the Floyd Mayweather lawsuit

The businessman alleges that after a series of meetings with members of Mayweather’s TMT at the Fontainebleau Miami Beach in late June 2021, he agreed to sell the boxer an Audemars Piguet watch, two Richard Mille watches, a Patek Philippe watch and a rose gold Rolex Presidential Day-Date, along with a diamond ring and a chain. However, Sulaymanov claims he has yet to receive full payment for the transaction. The lawsuit, filed by the Miami-based watch collector and jeweler, under the Racketeer Influenced and Corrupt Organization (RICO) Act, includes charges of fraud, racketeering, civil conspiracy, breach of contract, civil theft and several other counts.

“This action arises from a pattern of predatory, unfair, abusive, fraudulent and unscrupulous practices whereby Defendants abused Plaintiff’s reputation, business and inventory to systematically steal Plaintiff’s watches and jewelry and convert them into their own watches and jewelry without paying full and fair value,” according to the lawsuit.

The jeweler reportedly received $267,000 in two down payments from the former world champion before he left town. However, a whopping total of $3,883,657.00, nearly $4 million, has yet to be paid to the jeweler for the total purchases Mayweather made, even after multiple attempts to talk to Mayweather’s agents.

The plaintiff, Sulaymanov, stated in the lawsuit that one of the defendants, a TMT member, asked him to put his phone away to complete the transaction in private, but he was able to secretly film the meeting with another phone. Additionally, rapper Tyga, Mayweather’s friend, was also named in the lawsuit for allegedly agreeing to pay for a $79,000 Rolex Day-Date from LenZo and Co. but failing to do so.

What is the RICO Act?

The Racketeer Influenced and Corrupt Organizations Act is a law specifically targeting organized criminal activity and racketeering. Originally passed in 1970 to address the crimes of the mafia, imposes a maximum penalty punishment of 20 years in prison for violations of the statuteA person convicted under the RICO Act must forfeit to the government any proceeds obtained while participating in racketeering activities.

In order to charge someone under the RICO Act, he must demonstrate a clear pattern of involvement in racketeering activities. In addition, the plaintiff must be guilty of restore “triple injury suffered as a result of the unlawful activity of the offender”.

These are all very serious allegations. But the truth of them remains unconfirmed. In the meantime, let’s take a look at his expensive watch collection.

Floyd Mayweather Watch Collection

Mayweather is known for his diverse taste in watches. His extravagant watch collection includes pieces from Jacob & Co., Richard Mille, the “Rolex Sky-Dweller Ref. 326938,” Hublot, Audemars Piguet, Rolex and Patek Philippe.

The most expensive watch in his collection is “The Billionaire Watch”, an exclusive timepiece by Jacob & Co. The dial, strap and case of this striking 49-millimeter watch are all encrusted with baguette-cut diamonds. The price of this model is estimated at around $18 million.

Will Floyd Mayweather’s love of expensive watches get him into trouble? Well, that’s for the lawyers and the courts to decide. Only time will tell if the 50-0 boxer will be punished for the accusations leveled against him.

Stay tuned to EssentiallySports for more developments on the lawsuit filed against Mayweather!