Having a History of Tax Troubles, Floyd Mayweather Uncovers Mega Mansion California Tax Scam While Purchasing $139 Million Home

Legendary undefeated boxer Floyd Mayweather has unearthed a giant tax scam regarding a mega-mansion in California. The multi-millionaire retired boxer is no stranger to expensive mansions and recently found himself pining for a Los Angeles hideaway worth a whopping $139 million. The initial showing for the mansion began back in 2021, as retired emergency room doctor Joseph Englanoff introduced ‘Money’ to the mansion. 

‘Money,’ who grappled with the IRS in 2017 and had to pay approximately $6.7 million in tax, including an accuracy penalty, spotted red flags in the deal when Englanoff sent the contract his way for the mansion named ‘La Fin.’ So, the richest boxer in the world went public with the shocking discovery. In November, Michelle McPhee, an investigative reporter from Los Angeles Magazine, took up the story, unraveling every little detail.

Michelle McPhee claims Floyd Mayweather doesn’t want to steal from the needy

Speaking to Fox 11 Los Angeles, McPhee revealed ‘Money’ was on the lookout for his dream home, considering the ‘La Fin’ mansion valued at $139 million in Bel-Air. After Mayweather and Englanoff shook hands, agreeing to buy the mansion, the latter sent over a contract to Floyd. However, after Floyd’s lawyers reviewed the contract, they discovered several red flags, alarming them against buying the 35,000-square-foot property.

McPhee went on to suggest one of the points of concern was the fact that the mansion wasn’t in Bel-Air at all. Rather, it was a firm somewhere in Nevada that didn’t have any income tax implications. Upon discovering this discrepancy, Floyd’s team of lawyers investigated Dr. Englanoff further, coming upon ‘borderline illegalities,’ as McPhee called it. 

The investigative reporter from Los Angeles Magazine then claimed the incident with Floyd Mayweather came to light before the taxes were imposed on the mansion. However, she claims if the LLC is investigated further, “It seems to be rampant. There are companies dedicated to this now,” said McPhee. She further explains the scam leveraged a loophole, taking advantage of the rule that if a company is established in another state, the owners can avoid paying extra tax.

McPhee also added that this loophole is one of the ways people are scamming the system, but there could be more ways of doing the same. Nearing the end of the interview, McPhee suggested she interviewed Mayweather, claiming Mayweather did not want to steal money from the needy. “The idea that there were people that were dodging the system and trying to steal from those needy people, I think is what pushed his buttons and what you know initiated him to speak to reporters,” said McPhee.

Also Read: Despite $30 Million Mansion and 30,000 Square Foot Farmlands, Dwayne Johnson Left in the Dust by Billionaire Floyd ‘Money’ Mayweather’s Real Estate Portfolio

In search for a home for his family, Floyd found the 12-bedroom, 17-bath property hidden away high in the hills of Bel-Air. However, thanks to his legal team Mayweather avoided being part of the scam. Have you come across such real estate scams? 

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