Chavez To Put Up Gamache Purse To Settle Mexican Tax Charges
Sep. 05, 1996
LAS VEGAS (AP) _ Julio Cesar Chavez will put up most of his purse for his fight with Joey Gamache next month in an effort to settle Mexican tax-fraud charges against him.
Promoter Bob Arum said he signed a letter of credit Thursday that gives much of the $1.5 million Chavez is to make for the Oct. 12 fight with Gamache to the Mexican government.
Arum said the guarantee was part of a deal that lawyers for Chavez were making with Mexican authorities to settle the charges. Chavez is in Los Angeles training for the Gamache fight.
``Everything is being taken care of,'' Arum said. ``I think everything will be OK tonight or tomorrow morning.''
Arum said Chavez doesn't have much cash, despite his $9 million payday for his June fight with Oscar De La Hoya. Chavez was stopped on cuts in the fourth round of that fight.
``But he has a lot of assets,'' Arum said.
A judge in Chavez's home city of Culiacan, on Mexico's Pacific Coast, issued an order Monday for Chavez's arrest, which had been sought by the Treasury Department.
Two associates were also named in the tax-fraud case, according to a one-page statement issued by the Treasury.
The Treasury said an audit of tax returns for 1993 determined that the government was defrauded of more than 10.5 million pesos _ about $1.4 million.
Chavez, 33, was named as president of the administrative council and leading partner in a company known as Gonzalez Carrasco, S.C. Also named were Daniel Viesca Monsivais and Jaime Vicente Garate Urena.
Chavez is 97-2-1 with 79 knockouts.