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December 19, 2014

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Bank: Floyd Mayweather Jr. owes $167,192 on car loan in default

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Steve Marcus

Floyd Mayweather Jr. works out at his Las Vegas gym this month. Mayweather is preparing for his upcoming fight with Juan Manuel Marquez on Sept. 19 at the MGM Grand Garden Arena.

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Just days before his fight against Juan Manuel Marquez, Las Vegas boxer Floyd Mayweather Jr. faces another potential distraction in the form of a lawsuit.

JP Morgan Chase Bank filed suit in Clark County District Court in Las Vegas on Wednesday against Mayweather, claiming he owes more than $167,000 on an auto loan that is in default.

The suit shows that in April 2007, Mayweather borrowed $415,695 to finance the purchase for $512,184 of a Mercedes Maybach 57S from dealer Fletcher Jones Imports in Las Vegas.

The contract called for an interest rate of 16 percent and 72 monthly payments of $9,077, which the lawsuit said Mayweather failed to make beginning in February 2008.

Court records indicate the bank repossessed the vehicle in January 2009, when the past-due balance had grown to $36,309 and the balance due was $363,000.

After the bank sold the Maybach for $196,000, JP Morgan Chase said that as of March, Mayweather still owed $167,192 on the contract, plus unspecified legal expenses.

Messages seeking comment on the lawsuit were left Monday with Mayweather's office and with his attorney in an unrelated case.

The suit was filed on behalf of JP Morgan Chase by attorney Caleb Langsdale with the Cooper Castle Law Firm. Langsdale said Monday he could not elaborate on the allegations.

The lawsuit follows an incident last month in which police searched a home belonging to Mayweather as part of an investigation of a shooting at a Las Vegas skating rink.

Police in a search warrant said they believed an associate of Mayweather was the shooter in the incident in which no one was injured. Detectives seized two handguns, ammunition and two bulletproof vests and said another car of Mayweather's, a Rolls-Royce, was at the home when it was searched.

Mayweather is coming out of retirement with plans to fight Marquez on Saturday at the MGM Grand resort in Las Vegas.

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