Ric Flair & Mike Tyson Sue Ex-Carma Execs in Explosive $50M RICO Lawsuit

Mike Tyson and Ric Flair are fighting a different kind of battle now—this time in federal court.

The two Hall of Famers, alongside cannabis companies Carma and LGNDS, have filed a 76-page federal RICO lawsuit in Illinois, accusing their former business partners of an elaborate criminal conspiracy that includes wire fraud, embezzlement, money laundering, securities fraud, and extortion. The stakes? Over $50 million in damages.

“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 claims.

At the center of the lawsuit are former Carma executives Chad Bronstein, Adam Wilks, Nicole Cosby, and James Case—names now associated with alleged backdoor dealings and unauthorized use of Tyson and Flair’s intellectual property. Wrestling fans may recognize Bronstein as the face behind the Hulk Hogan Real American Beer and Real American Freestyle League, now streaming on FOX Nation.

The lawsuit lays out a damning case: licensing deals sold without approval, secret kickbacks to vape companies like DomPen, and misuse of over $1 million for personal luxuries including private jets, yachts, home renovations, and mortgage payments. It doesn’t stop there.

“Bronstein and Wilks each allegedly treated Carma as a personal piggy bank.”

Even AEW got dragged into the mess. The lawsuit says Bronstein entered a $1.5 million sponsorship deal for Ric Flair’s Woo Energy with AEW—without board approval or even telling the company. When AEW threatened legal action over non-payment, Carma and LGNDS had no choice but to settle up, despite never approving the deal in the first place.

“Flair had never agreed to the terms of the sponsorship agreement.”

The lawsuit also claims Bronstein lied to Flair about ownership stakes in Ric Flair Drip, Inc., convincing the wrestling legend to sign over his IP under the false belief that he was the majority owner. According to the complaint, “Flair was robbed of any proceeds” from the sale of his company to Carma, and later “shorted a significantly higher stake in CARMA than he was entitled to.”

Flair’s name and image were then allegedly sold off in product deals involving hemp, mushrooms, nicotine, kava, beverages, clothing—you name it—all without his knowledge. The lawsuit even says the partnership started when Bronstein “spotted an opportunity to grift” after meeting Flair at a boat dock in Tampa.

Attorneys for the defendants are firing back, calling the allegations “fiction dressed up as a lawsuit” and accusing the plaintiffs of trying to “coerce a settlement” through sensationalism. Still, the plaintiffs are seeking a jury trial, over $50 million in damages, and full reimbursement of legal costs.

From wrestling rings to federal courtrooms, this is one legal smackdown that’s just getting started.