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Mike Tyson Sues Live Nation For Allegedly Embezzling $300,000 From Him

Former heavyweight champion Mike Tyson is suing a financial services firm owned by Live Nation for allegedly embezzling more than Image mike-tyson.jpg $300, 000 dollars from him.

Tyson’s lawsuit claims that although the firm, SFX Financial Advisory Management Enterprises, has returned a portion of his money, the firm also wanted he and his wife to sign a non-disclosure agreement, a request which they both refused. Tyson also claims that the firm has yet to provide a full accounting of their losses.

CBS News reports:

The lawsuit claims the embezzlement prevented the Tysons from emerging from bankruptcy, and forced them to hire new advisers and turn down lucrative contracts. The couple trusted Brian Ourand, their adviser at SFX, so much that he attended their wedding, the case states.

 Ourand, who could not be reached for comment, has since left SFX, according to the lawsuit. The filings claim his conduct has not been reported to regulators.

Ourand is no longer with the SFX financial services company.

“Defendants did not secure, protect, safeguard and appropriately apply the Tysons’ finances for their intended purposes,” according to the lawsuit, “but instead misappropriated said funds for the benefit and enrichment of SFX/Live Nation.

In recent years, Tyson has re-branded himself as an entertainer, appearing in mega-box office hit “The Hangover”  as well as going on a tour for his one man show, “The Undisputed Truth”.

A spokesperson from Live Nation said that the company had not been served with the lawsuit and could not comment.

 

 

 

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