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.
Caleb Langsdale, 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 of more than $9,000 a year later.
The bank repossessed the vehicle in January, sold it for $196,000, and is seeking to recoup the difference, the lawsuit said.
The IRS and others use liens to secure payments by placing a claim on the property of individuals who owe them money. Liens damage a person's credit rating and remain on credit reports longer than other negative information, such as late payments. Once unpaid taxes are satisfied, the IRS files lien releases saying so with the county recorder.
Raphael Tulino, an IRS spokesman, said Thursday that the agency does not comment specifically on individual tax situations. The IRS said in the October lien itself that it has demanded payment, but the 2007 taxes remained unpaid.
A clerk in New Jersey Superior Court said Thursday that the $193,000 judgment there had not been satisfied.
Mayweather (39-0, 25 KOs) has been socked with liens in the past and paid them off, according to recorder records in Clark County. The IRS filed liens totaling nearly $6.3 million for unpaid taxes from 2001, 2003, 2005 and 2006, and three homeowners associations also filed claims against the boxer that were later resolved, county records show.