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Boxing legend and cannabis industry CEO Mike Tyson is suing several former executives and a shareholder of Carma HoldCo, the parent company behind his Tyson 2.0 cannabis brand, Front Office Sports reports. The lawsuit accuses the company of fraud through kickback schemes, and unauthorized bonuses and personal spending.

The lawsuit, which is seeking $50 million, alleges the fraudulent schemes have cost Tyson and other plaintiffs “tens of millions of dollars,” the report says.

The other plaintiffs in the lawsuit include professional wrestler Ric Flair, whose Carma brands include Ric Flair Drip and Wooooo! Energy, LGNDS, a company that has collaborated with the Tyson 2.0 brand, and Carma itself.

The lawsuit names former Carma President and Chairman Chad Bronstein, former CEO Adam Wilks, and former Chief Legal and Licensing Officer Nicole Cosby, along with shareholder James Case.

According to the lawsuit filed last week in the U.S. District Court in Illinois, the defendants are accused of a “brazen RICO conspiracy involving criminal wire fraud, embezzlement, money laundering, and extortion, as well as securities fraud and shameless self-dealing that enriched the Defendants to the tune of tens of millions of dollars.” The lawsuit also accuses Wilks of having an undisclosed “kickback” deal with vape maker DomPen, and accuses Wilks of recieving “concealed payments in exchange for turning a blind eye to DomPen’s unauthorized use of CARMA’s intellectual property.” DomPen is not named as a defendant.

In a statement, Jonathan Cyrluk, the attorney for Bronstein and Cosby, told Front Office Sports, that “the complaint is fiction dressed up as a lawsuit.”

“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,” Cyrluk said in the statement. “My clients won’t be bullied and are prepared to knock out this meritless lawsuit in court.”

TG joined Ganjapreneur in 2014 as a news writer and began hosting the Ganjapreneur podcast in 2016. He is based in upstate New York, where he also teaches media studies at a local university. More by TG Branfalt