Legal War in the World of Icons: Flair and Tyson Launch $50 Million RICO Lawsuit

In a move as explosive as a "Nature Boy" promo and as heavy-hitting as "Iron" Mike, two of the greatest icons in sports history have officially declared war—not in the ring, but in federal court. Ric Flair and Mike Tyson have filed a staggering $50 million lawsuit against former executives of their cannabis licensing venture, Carma HoldCo Inc., alleging a massive web of fraud, embezzlement, and racketeering.

The 76-page complaint, filed in the U.S. District Court for the Northern District of Illinois, reads more like a Hollywood thriller than a business filing. The allegations claim a "brazen RICO conspiracy" involving criminal wire fraud, money laundering, and extortion.

​The lawsuit names four primary defendants: former Carma president Chad Bronstein, ex-CEO Adam Wilks, former legal chief Nicole Cosby, and shareholder James Case.

​According to the filing, Bronstein and Wilks allegedly treated the company—which handles the licensing for Tyson’s "Tyson 2.0" and Flair’s "Ric Flair Drip" brands—as their "own personal piggy bank." The shocking allegations include:

• ​$1 Million in Travel: The suit claims the pair used over $1 million in company funds for unauthorized private jet travel.

• ​Luxury Living: Funds were allegedly diverted to pay for Bronstein’s personal yacht costs, home renovations, and even a mortgage payment for Wilks’ residence.

• ​The McVay Watch: In one of the more bizarre details, the suit alleges Bronstein used company money to purchase an expensive watch for Los Angeles Rams head coach Sean McVay without his knowledge or company approval.

​The wrestling world is particularly tuned in due to the involvement of All Elite Wrestling (AEW). Ric Flair’s entry into AEW in late 2023 was famously centered around a multi-year deal involving his "Wooooo! " drink—a product under the Carma umbrella. While AEW itself is NOT a defendant in the $50 million suit, the fallout from these alleged financial improprieties explains the "Nature Boy’s" sudden and quiet disappearance from AEW programming earlier this year.

Reports suggest that as the internal business struggle at Carma intensified, the sponsorship deals—which Tony Khan once noted were actually paying AEW for Flair’s presence—began to unravel.

​The legal teams for the icons aren't pulling any punches. The filing characterizes the defendants' actions as a "pattern of racketeering " designed to strip the legends of the value of their intellectual property.

Jonathan Cyrluk, the attorney representing Bronstein and Wilks, has dismissed the claims entirely, stating:

"The complaint is fiction dressed up as a lawsuit... It is a desperate attempt to avoid the consequences of their own actions."

While neither man has issued a lengthy statement on social media yet, the filing makes their position clear: they are seeking $50 million in damages and legal fees, and they have requested a jury trial.

​For Tyson, this comes during a year of high-profile returns to the spotlight, and for Flair, it’s yet another chapter in a life defined by high stakes and "limousine ridin'."

​As this legal battle moves toward a jury, the implications for the wrestling and cannabis industries are massive. If the allegations of RICO violations hold up, the financial repercussions for the former executives could be ruinous.

For AEW fans, the lawsuit provides the "missing piece" to why the Flair era ended so abruptly. It seems the "Dirtiest Player in the Game" was busy dealing with an opponent he couldn't "figure-four" into submission.

Stay tuned to All F'N Wrestling as we continue to track this developing story.

Kimster AFW