King 'stole $350,000 in Lloyds' fraud'
Thursday 12 October 1995
Don King, the controversial promoter of heavyweight boxer Mike Tyson, is expected to take the stand in a New York court today to answer allegations that he stole $350,000 from Lloyds of London in a bogus insurance claim.
Prosecutors have charged Mr King with nine counts of insurance fraud arising from a 1991 fight featuring super lightweight champion, Julio Cesar Chavez, that was cancelled after the boxer injured his nose in training. Each count carries a maximum penalty of five years in jail and a fine of $250,000.
Mr King is accused of padding his claim to Lloyds with an additional $350,000 in losses which prosecutors say were never actually incurred. US attorney Paul Gardephe said "this number was simply made up by Mr King".
Specifically, Mr King is accused of doctoring the original contract documents signed with Lloyds to insert a rider purporting that Chavez was paid the $350,000 in the run-up to the fight, a high-winnings bout against Harold Brazier in Las Vegas, as a "non-refundable" training fee. The prosecution has promised Chavez will tell the court that he never actually received any such payment.
Mr King was paid a total of $671,000 for the loss of the match. His defence has rejected the allegations and says that in any event the promoter had no responsibility for the day-to-day financial running of his empire.
- 1 What happens to your body when you give up sugar?
- 2 Have sex with your iPad thanks to the new sex toy no-one asked for
- 3 Bali nine: Welcome to 'Execution Island' – the Indonesian holiday resort where foreigners are sent to die
- 4 The 'sex selfie stick' lets you FaceTime the inside of a vagina
- 5 Why you're almost certainly more like your father than your mother
Mark Zuckerberg: Facebook CEO's one simple test for who to hire
Bali nine: Welcome to 'Execution Island' – the Indonesian holiday resort where foreigners are sent to die
'A girl is more responsible for rape than a boy': The statement that shocked the world... except India
The 'sex selfie stick' lets you FaceTime the inside of a vagina
Saudi Arabia executions now at 'unprecedented rate' after kingdom kills four more in two days
Durham Free School: 'Creationism taught at' free school facing closure
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
Ukip would cut billions from Scottish budget to fund English tax cuts
End of the licence fee: BBC to back radical overhaul of how it is funded
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
Boris Nemtsov shot dead: Outspoken Putin critic who had expressed fears for his life is killed near the Kremlin
£16000 - £18000 per annum: Recruitment Genius: They are an award-winning digit...
£45000 - £55000 per annum + benefits: Ashdown Group: Senior VMware Platform En...
£10000 - £16000 per annum: Recruitment Genius: A distributor of specialist ele...
£17000 - £19000 per annum: Recruitment Genius: A distributor of specialist ele...