Pacquiao could face two years in prison over alleged tax discrepancies

Manny Pacquiao faces criminal complaint over tax discrepancies – Boxing News

WBO welterweight champion, Manny Pacquiao is in the loop of a criminal complaint filed by Philippine tax officials for failing to provide documents to prove his tax returns, after being asked several times by investigators. The complaint will now be reviewed by prosecutors to see if it is valid enough to take the matter to courts.

It should be noted here that this is one of the gravest charges any boxer can face. If Manny is found guilty, he can face imprisonment for up to 2 years.

News of the complaint being registered was revealed by Rozil Lozares, regional director of Bureau of Internal Revenue. According to Rozil, the complaint was filed on March 1 following the congressman’s incapability of providing tax return documents. He further added that Manny was given three official notices and a subpoena yet he was unable to provide the documents. He lastly said that Manny was being investigated after discrepancies were found in his 2010’s tax return in relation to his businesses, properties and shares.

Being the world’s 24th richest athlete as ranked by Forbes magazine, Manny Pacquiao is widely known for his widespread businesses. He has gained enormous popularity in the boxing world, and with some smart investments, he is living a dream life filled with luxuries to the utmost.

Manny Pacquiao is scheduled to fight unbeaten Timothy Bradley on June 9 at the MGM Grand in Las Vegas this year. He is currently scheduling is training sessions with his Hall of Famer trainer Freddie Roach. The bout between both the top-notch fighters is currently being considered among the best bouts of 2012. After Mayweather vs. Cotto, scheduled for May 5, Manny’s title defence will probably be the second major boxing event of the year.

In addition, his promoter Bob Arum and Freddie Roach are trying their level best to get Manny a shot over undefeated WBC welterweight champion Floyd Mayweather. Manny is close to retirement and so is Mayweather. Both the fighters are at the top of their game and fans of both the sides want them to collide before they retire. In other words, if a fight between both of them happens this year, then 2012 is surely going to be an exciting 12-month phase for boxing fans.