US gossip website TMZ obtained both photographic and video evidence of the unbeaten five-division world champion lighting a $100 bill as he partied at a nightclub in Atlanta with American rappers Lil' Kim and Gucci Mane.
In America it is illegal to burn money and those found guilty of the offence can face six months in prison and a fine of, ironically, $100.
However, law enforcement agencies told TMZ that it is unlikely that Mayweather will be charged for burning the bill.
"Try to find a case in recent history where a person was prosecuted for destroying ONE bill," a source told the website.
Mayweather will return to the ring in September when he challenges welterweight title holder Victor Ortiz for the WBC championship, ending a one-year hiatus from boxing.
Mayweather, 41-0 with 25 knockouts, has not fought since a unanimous decision over Shane Mosley on May 1, 2010.
He has won world titles at five different weights - super featherweight, lightweight, light welterweight, welterweight and super welterweight - and is ranked as the number one challenger by the WBC despite his long inactivity.
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