Mike Tyson, Ric Flair Sue Ex-Partners in Weed Business for $50 Million
Mike Tyson and Ric Flair have sued several former executives and a shareholder of Carma for alleged fraud, breach of contract, and other claims in relation to the cannabis businesses that use their likenesses.
In a 76-page, 21-count suit filed last week in U.S. District Court in Illinois, Tyson, Flair, Carma, and LGNDS allege Chad Bronstein, Adam Wilks, Nicole Cosby, and James Case participated in a “brazen RICO conspiracy involving criminal wire fraud, embezzlement, money laundering, and extortion, as well as securities fraud and shameless self-dealing that enriched the Defendants to the tune of tens of millions of dollars.”
Bronstein, Wilks, and Cosby previously served as Carma’s president and chairman, CEO, and chief legal and licensing officer, respectively. Case is a shareholder in the company. Carma and LGNDS have collaborated to distribute the Tyson 2.0 and Ric Flair Drip cannabis products named after the legendary former boxer and pro wrestler.
Among the claims are allegations that Bronstein, Wilks, and Cosby sold licensing rights they were not allowed to under agreements with Tyson and Flair, and that Wilks had an undisclosed “kickback” deal with vape maker DomPen, under which he received “concealed payments in exchange for turning a blind eye to DomPen’s unauthorized use of CARMA’s intellectual property.”
Attorneys for the defendants pushed back on the lawsuit. #Tyson #MikeTyson #RicFlair #THC #TysonMayweather #WeedCulture
