Boxer Mayweather sued over loan for luxury sedan
LAS VEGAS — Boxer Floyd Mayweather Jr. is being sued by a bank in Las Vegas for more than $167,000 unpaid on a loan for a half-million-dollar luxury car.
A lawyer for JP Morgan Chase Bank said in a lawsuit filed last week in Clark County District Court that the former five-division boxing champion bought the Mercedes Maybach 57S in February 2007 and stopped making monthly payments a year later.
The lawsuit says the bank repossessed the vehicle in January, sold it for $196,000, and is seeking to recoup the difference.
A lawyer for Mayweather and other representatives did not immediately respond Monday to messages seeking comment.
The lawsuit says Mayweather borrowed more than $415,000 at 16 percent annual interest to buy the $528,000 sedan.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.
LAS VEGAS (AP) — Boxer Floyd Mayweather Jr. is being sued by a bank in Las Vegas for more than $167,000 unpaid on a loan for a half-million-dollar luxury car.
A lawyer for JP Morgan Chase Bank said in a lawsuit filed last week in Clark County District Court that the six-time former boxing champion bought the Mercedes Maybach 57S in February 2007 and stopped making monthly payments a year later.
The lawsuit says the bank repossessed the vehicle in January, sold it for $196,000, and is seeking to recoup the difference.
A lawyer for Mayweather and other representatives did not immediately respond Monday to messages seeking comment.
The lawsuit says Mayweather borrowed more than $415,000 at 16 percent annual interest to buy the $528,000 sedan.
(This version CORRECTS that Mayweather was a champion in five divisions.)
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