November 28, 2014
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.