Mike Tyson and Ric Flair, iconic figures in the boxing and wrestling worlds, have initiated legal proceedings against their former cannabis business associates, citing grave accusations of money laundering, extortion, and criminal fraud.

These sports legends had entered into agreements with Carma, a marketing company, to promote cannabis products under their own brands. Tyson’s line, notably featuring Mike Bites, offered THC gummies fashioned after Evander Holyfield’s ear, a nod to the infamous 1997 incident during their rematch.

Joining forces with Tyson and Flair in the lawsuit are Carma and the hemp label LGNDS. Together, they have targeted former Carma leaders Chad Bronstein, Adam Wilks, Nicole Cosby, and an additional shareholder, in their legal challenge.

The comprehensive 76-page complaint, lodged in Illinois last week, paints a picture of a bold RICO conspiracy. The allegations detail a series of criminal acts including wire fraud, embezzlement, money laundering, extortion, securities fraud, and blatant self-dealing by the accused.

The plaintiffs assert that these fraudulent activities have unjustly enriched the defendants by tens of millions of dollars, as revealed in the legal documents obtained by the Daily Mail.

‘Throughout their time at CARMA, Bronstein and Wilks treated CARMA as their own personal piggy bank, using more than $1 million to pay for unauthorized personal travel on private jets, costs associated with Bronstein’s personal yacht, renovations to Bronstein’s personal residence, a mortgage payment for Wilks’ personal residence, and lavish entertainment expenditures for Wilks, including exorbitantly priced meals and travel expenditures, as well as excessive and unapproved compensation and bonuses,’ read one paragraph in the filing.

(From left) Ric Flair, Mike Tyson and ex-Carma executive Adam Wilks are pictured together. Wilks is now being sued by both Flair, Tyson and his former company, Carma 

Bronstein is also accused of buying a watch for Los Angeles Rams coach Sean McVay using Carma company funds. 

‘In late 2020 or early 2021, Bronstein used company funds to purchase a watch for Los Angeles Rams Head Coach Sean McVay (‘McVay’),’ read the filing. ‘Unbeknownst to McVay, this purchase was completed without company approval. Bronstein misappropriated approximately $15,000 worth of company funds to purchase the watch.’

The lawsuit seeks $50million in damages and legal fees and a jury trial was requested by the plaintiffs.  

Carma once partnered with the late Hulk Hogan on his ‘Real American Beer’ brand, only to end up suing Bronstein and Cosby over the alleged breaches of contracts.

In Tyson and Flair’s 2025 lawsuit, Bronstein, Wilks and Cosby are accused of improperly selling licensing rights. In one case, the filing claims, Wilks got a secret ‘kickback’ with a vaporizer company ‘for turning a blind eye’ to its ‘use of CARMA’s intellectual property.’

Carma once partnered with the late Hulk Hogan (right) on his ‘Great American Beer’ brand, only to end up suing Bronstein (left) and Cosby over alleged breaches of contracts

Mike Tyson sold a line of THC gummies shaped like Evander Holyfield’s mangled ear 

Wilks’ attorney denied the allegations in a statement provided to Front Office Sports.

‘These claims are as credible as the people they come from—in short, the allegations are without substance,’ attorney Terry Campbell told FOS. ‘This is nothing more than an attempt to spit out an earful of salacious headlines and attempt to coerce my client into paying money to them when he did nothing wrong.

‘We will fight these meritless allegations—both the facts and the law are squarely on our side.’

Bronstein and Cosby’s attorney also pushed back on the allegations in a statement provided to Front Office Sports.

‘The complaint is fiction dressed up as a lawsuit,’ Jonathan Cyrluk told FOS in a statement. ‘Before filing, the plaintiffs tried to intimidate my clients with settlement demands that read more like a shakedown than a legal claim—demanding millions of dollars and attempting to force others to surrender their Carma shares.’

‘My clients won’t be bullied and are prepared to knock out this meritless lawsuit in court,’ he added.