Black sports stars who lost their fortunes to fraud schemes

Mike Tyson

The former World Heavyweight Champion ruled the boxing arena in the late eighties and made millions of dollars. Tyson filed a $100 million lawsuit against Don King, a boxing promoter, accusing him of defrauding him (Tyson) of millions of dollars since 1988. The two parties settled, with Tyson agreeing to drop the suit and King agreeing to pay $14 million.

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