The Mecklenburg, N.C. judge held Flair in contempt for withholding $32,352.51 from Jacqueline Beems -- the same estranged wife who was charged and turned herself in Tuesday for harassing Flair's current girlfriend.
Flair, whose given name is Richard Fliehr, was ordered to pay Beems $4,000 per month after she filed for legal separation last year.
The wrestler can avoid jail time if he pays up -- which he said he fully intends to do as soon as Wednesday.
“The reason I didn’t pay my ex-wife the 32 grand is because my son died and I was in the hospital for a month,” Flair said. “I was in the hospital for a month with a blood clot. I didn’t go to work for three months.”
Reid Fliehr, 25, died on March 29 of a toxic combination of heroin and prescription drugs.
An attorney for Beems said she did not know where Flair is, and that the accusations that she threatened Flair's girlfriend Wendy Kidder -- in 50 texts and five voicemails, according to Flair -- are "unfounded and outlandish."
Beems was charged with a misdemeanor and released on $500 unsecured bond.
Beems and Flair have been married for three years, and just months after their wedding, Beems charged with misdemeanor assault after the couple got in a fight. Police dropped charges for lack of evidence.
Celebrity Families of 2014 [PHOTOS]