Former world heavyweight champion Mike Tyson is gearing up for a significant legal battle as he heads towards 2026. The 59-year-old boxing icon, celebrated for being the youngest fighter to win a heavyweight title at just 20 years old, is involved in a high-stakes 21-count lawsuit against Carma, a cannabis licensing company. Alongside WWE legend Ric Flair, Tyson has accused several former executives of Carma of fraud and breach of contract, among other serious allegations.
The lawsuit alleges that Carma engaged in what it describes as a “brazen RICO conspiracy,” which involved criminal wire fraud, embezzlement, money laundering, extortion, and securities fraud. The plaintiffs claim that the defendants profited tens of millions of dollars through these illicit activities. According to court filings, key executives Chad Bronstein and Adam Wilks treated the company like a “personal piggy bank,” misusing over $1 million for unauthorized personal expenses, including private jet travel, yacht costs, home renovations, and extravagant entertainment.
Despite the seriousness of these allegations, Carma’s leadership, particularly Bronstein and Wilks, are vehemently defending their actions. Their legal representatives have labeled the lawsuit as a “fabrication” and suggested that Tyson and Flair attempted to intimidate the defendants into a settlement that resembled a shakedown. They have stated that their clients are prepared to vigorously fight the claims in court.
Tyson and Flair are seeking more than $50 million in damages and legal fees in what is shaping up to be a headline-grabbing case. The outcome of this lawsuit not only poses potential financial ramifications for those involved but also highlights issues of corporate governance and ethical practices in the cannabis industry. As Tyson moves into this new chapter of his life, fans and observers alike will be watching closely to see how this legal drama unfolds.