Floyd Mayweather Fined $6,000: Alleges Rapper Stole His Diamond Watch

Tony BriscoeCorrespondent IJune 17, 2010

Undefeated boxer Floyd Mayweather was court ordered to pay record company Just for You Entertainment $6,000 due to an apparent misunderstanding with rapper Freck Billionaire’s contract.

Mayweather’s record label, Philthy Rich, signed Freck Billionaire, not knowing that he had a record deal with Just for You Entertainment. Thus, the record company sued Mayweather initially for $600,000, but it was later reduced to $6,000.

According to Mayweather, Freck Billionaire lied and said that he was unsigned. However, even after the case, Mayweather’s bad luck continued. Mayweather dropped Freck Billionaire from his label and accused him of stealing a diamond watch.

"We were working with an artist named Freck Billionaire. When he came aboard we asked if he had any contracts and he said no,” said Mayweather, according to AllHipHop.com in an exclusive interview. “Come to find out he was signed with somebody. The guy was trying to sue us and Freck stole one of our watches and left. So we’ve been looking for Freck Billionaire but he’s been ducking and dodging us. He stole a diamond watch and left."

Freck Billionaire and his entourage responded to Mayweather’s comments by stating that the watch was given to him when he was signed to Philthy Rich, and that Mayweather was an extremely greedy individual.

Most fans wouldn’t disagree with Freck Billionaire considering the lack of compromise Mayweather has shown in with negotiations between Manny Pacquiao and himself.