Floyd Mayweather Exposes Real Estate Tax Scam While Trying To Buy $139 Million Bel-Air Mansion

Floyd Mayweather Exposes Real Estate Tax Scam While Trying To Buy $139 Million Bel-Air Mansion

Floyd Mayweather recently dodged a massive bullet! 

Floyd Mayweather, also known as Money Mayweather, was at the tail end of purchasing a $139 million home when his legal team noticed that some things in the contract were not adding up. Reportedly, the retired professional boxer had his eyes set on the 35,000-square-foot Bel-Air property since 2021, and, after viewing the residence, quickly made a handshake agreement with the developer, UCLA doctor Joseph Englanoff, to move forward with the purchase.

Reports claim that the 12-bedroom, 17-bathroom home features a vodka tasting room, a 6,000-square foot nightclub with a crystal-embedded wall, a temperature-regulated wine room, a ventilated cigar humidor, a movie theater, and more. 

It was reportedly Floyd Mayweather’s dream house, however, his lawyers recognized inconsistencies within the contract that indicated the sale was actually not for the Bel-Air property, but instead, allegedly for shares in Ashley Ridge Land LP, a Nevada-based company whose holdings included the mansion and a plot of land outside Las Vegas.

Floyd Mayweather

Additionally, not only was Mayweather asked to invest in a company instead of purchasing the property, but the developer wanted to be paid as a contracted consultant in the deal. As Mayweather’s attorneys dug more into the matter they reportedly discovered the athlete could be pulled into a possible tax scheme if their client signed on the dotted line for the house.

 Mayweather’s lawyers released a statement on the matter, sharing, 

“After careful consideration of various aspects of this transaction, including due diligence, we advise our client not to proceed with this seller,” Rockard “Rocky” Delgadillo.”

According to reports, the legal professionals alleged that Englanoff avoided paying his income taxes for years in California by setting up a Nevada residence, which he reportedly rarely occupied.

However, Englanoff responded to their allegations, explaining,

“The move was predicated on us both being able to practice medicine in Nevada and as such, we applied for the NV Medical Board in early 2021. At the same time, we registered two vehicles in NV in anticipation of the move, not to avoid paying California taxes.”

Mayweather has yet to comment on the dream-home-turned-nightmare situation, but he did follow legal advice, opting not to cheat the system to buy the home.

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[VIA]