New York, Thursday
BOXING promoter Don King was indicted today for scheming to file false
insurance claims in connection with the cancellation of a June 1991
boxing match between Julio Cesar Chavez and Harold Brazier.
King, 62, of Oakland Park, Florida, was indicted on nine charges of
wire fraud by a Manhattan federal jury. He faces up to five years in
prison and a $250,000 (#166,000) fine on each charge.
According to the indictment, Chavez, then World Boxing Council and
International Boxing Federation junior welterweight champion, was
injured in training for the fight and the bout was cancelled.
King then allegedly schemed to obtain money from Lloyd's of London and
some of its underwriting syndicates by filing a false insurance claim.
The indictment alleged that King gave Lloyd's a false document
purporting to be the contract between King and Chavez for the fight.
As part of the insurance claim, King allegedly sought reimbursement
for #233,000 which he falsely claimed was a loss arising from
non-refundable training expenses to Chavez.--Reuter.
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