Former boxing great Mike Tyson has sued a financial service firm owned by Live Nation Entertainment on Wednesday, claiming one of its advisers embezzled more than $300,000 from the former heavyweight champ and cost him millions in lost earnings.
In the lawsuit, Tyson alleges that Brian Ourand of SFC Financial Advisory Management and Live Nation covered up the pilfering while Tyson and his wife, Lakiha, were going through bankruptcy, which prevented the Tyson's from stabilizing their finances and forced them to turn down lucrative business opportunities.
The lawsuit seeks more than $5 million in damages for breach of fiduciary duty, negligent hiring, unjust enrichment and other claims.
A spokeswoman for Live Nation Entertainment Inc. said the company had not been served with the lawsuit and could not comment on it.
"Defendants did not secure, protect, safeguard and appropriately apply the Tysons' finances for their intended purposes," the case states, "but instead misappropriated said funds for the benefit and enrichment of SFX/Live Nation.
Tyson, 46, has seen a career resurgence of late, thanks to cameos in box-office hits like The Hangover, appearances in best-selling video games and a one-man solo show he headlined in Las Vegas and on Broadway entitled Mike Tyson: Undisputed Truth.
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