LOS ANGELES-When Murad Muhammad said he made miracles happen, Manny Pacquiao believed him all the way. In fact, Pacquiao has recently spun a joke out of that statement: “The guy makes my money disappear.”
But previously not known to Pacquiao, his former trusted business manager, Rodolfo “Rod” Nazario had tricks up his own sleeve that would put David Copperfield, Harry Houdini and David Blaine to shame.
In fact, the systematic and educated way of gypping Pacquiao has become a Nazario family affair. Enter Roberto “Boying” Nazario, the South San Francisco-based son of Rodolfo, who is more known as the “banker” and “Prayer Man” of the “old” Team Pacquiao.
After Pacquiao himself ordered and authorized his “new” team of professionals which includes Shelly Finkel and lawyers Keith Davidson and Nick Khan to look deep into his previous records, a can of worms has been unearthed.
It has been noted that Pacquiao, since he started fighting in the US in 2001, has not paid a single centavo and the blame stems from those who handled his business affairs, including the wily Nazario father-and-son tag team which kept the truth from the 26-year-old elementary drop-out.
Good thing, Pacquiao has been self-studying English among others and has been schooling himself privately, earning credits which now has promoted him to high school levels. And with the advice of well-meaning friends, the intricacies of basic taxation laws have been roughly explained to Pacquiao.
When Pacquiao won the IBF super-bantamweight title in 2001 as a late substitute against then champion Lehlo Ledwaba, the Nazarios, with the help of Burlingame, California-based lawyer Sydney Hall incorporated “Philippine Boxing LLC,” (limited liability company) a company which will later act as a channel for all future fight purses of Pacquiao.
While it is Pacquiao who puts his life on the line every time he trains, spars and fights, it has been highly irregular that his name has not been put on the incorporation papers filed on Oct. 26, 2001.
According to the research papers gathered, the father-and-son company of Rodolfo and Roberto Nazario indicated that they were the managers and members of the company, respectively.
For every Pacquiao fight done in the US, the checks would not be named to the General Santos City native but to the Nazario-owned Philippine Boxing LLC. Then, the distribution of the loot will be done by the Nazarios, paying off everyone on the payroll of Team Pacquiao, including the overpaid Muhammad, who apparently skimmed off the top.
Pacquiao, who at first did not know anything about tax refunds, tax deductibles, tax write-offs and other intricate jargon regarding taxes, agreed to automatic 30 percent cuts from his fight purse up until his May 2004 fight with Juan Manuel Marquez.
The Nazarios previously explained to Pacquiao that everything was in order and that the money which was supposed to pay for his taxes, was placed in an account. When Pacquiao drove to San Francisco last January, Roberto Nazario even showed documents which reportedly proved that Pacquiao was in good terms with the IRS.
After Pacquiao signed Finkel, Davidson and Khan as his new managers in February, Muhammad fed lies to Manila-based journalist Ronnie Nathanielsz, who went on spreading rumors with the idea of sowing intrigue and division among the “new” think-tank and friends of Pacquiao.
Muhammad, who also met this writer at the first press conference of Pacquiao-Morales, went ballistic in public, saying: “I thought you were my friend, Winchell. Now, you are the No. 1 enemy of the Filipino people,” alluding that he has earned enough influential friends in the Philippines when he promoted the Pacquiao-Fahsang 3K Battery fight last December and that he has been an adopted son of the Philippines.
Apparently sensing that trouble was forthcoming, the elder Nazario, upon arriving in the US in February, immediately cornered Pacquiao and made him sign a revised “Philippine Boxing LLC” incorporation document which put Pacquiao in a disadvantageous situation.
Still, Pacquiao, the supposed owner and bread-winner of Philippine Boxing LLC was given only 49 percent minority shares while Rodolfo and Roberto owned 26 and 25 percent shares, respectively, forming 51 percent of the pie.
This writer, upon immediately learning of the Nazario family’s caper, explained to Pacquiao who were to be the true owners of Philippine Boxing LLC, which prompted the “Pacman” to do alternative measures so that his $1.75 million earnings in the Morales fight will be protected.
A few weeks before the Morales fight, Pacquiao formed his own Emmanuel Pacquiao Inc. company which had him 100 percent owner, president, treasurer, secretary and big boss, making extra effort when he should have concentrated on training alone.
(To be continued)
