LOS ANGELES–Filipino boxing sensation Manny Pacquiao is suing American promoter M and M Sports in a New York court for allegedly withholding earnings from fights, Pacquiao’s US lawyers announced on Wednesday.
Also named in the suit is Las Vegas fight promoter Murad Muhammad. The suit alleges that the former two-time world champion’s business managers transferred more than 30 percent of Pacquiao’s earnings to a shell company for the purpose of paying taxes.
The suit alleges the tax money was never paid, leaving Pacquiao on the hook for the taxes, penalties, and interest.
“It has taken me awhile to come to terms with the fact that I have been cheated by people whom I trusted,” Pacquiao said.
“I will never fight again for Murad Muhammad and M and M Sports.”
Pacquiao is hailed as a national sports hero in the Philippines.
He lost a 12-round decision to Mexico’s Erik Morales in a much anticipated super featherweight showdown last month in Las Vegas.
