Boxing legend Mike Tyson and wrestling icon Ric Flair have filed a massive $50 million lawsuit against former executives of their cannabis company Carma, alleging fraud, embezzlement, and racketeering.
The 76-page complaint, filed December 17 in U.S. District Court in Illinois and obtained by Front Office Sports, names Chad Bronstein, Adam Wilks, Nicole Cosby, and James Case as defendants. Bronstein previously served as Carma’s president and chairman and is now co-founder of Hulk Hogan’s Real American Freestyle wrestling promotion. Wilks served as CEO, while Cosby was chief legal and licensing officer.
According to the lawsuit, the defendants engaged in a “brazen RICO conspiracy involving criminal wire fraud, embezzlement, money laundering, and extortion” that enriched them “to the tune of tens of millions of dollars.” The suit alleges Bronstein and Wilks “treated CARMA as their own personal piggy bank, using more than $1 million to pay for unauthorized personal travel on private jets, costs associated with Bronstein’s personal yacht, renovations to Bronstein’s personal residence, a mortgage payment for Wilks’ personal residence.”
The defendants’ attorneys strongly denied the claims. Jonathan Cyrluk, representing Bronstein and Cosby, called the complaint “fiction dressed up as a lawsuit,” adding his clients “won’t be bullied and are prepared to knock out this meritless lawsuit in court.” Terry Campbell, Wilks’ attorney, dismissed the allegations as “without substance,” calling the suit “an attempt to spit out an earful of salacious headlines.”
Carma and LGNDS distribute the Tyson 2.0 and Ric Flair Drip cannabis brands. This lawsuit follows a previous July 2025 case where Carma sued Bronstein and Cosby over alleged misappropriation of information related to Hogan’s Real American Beer brand.