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. Last Updated: 07/27/2016

Promoter Indicted For Fraud

LOS ANGELES -- Don King, the electric-haired promoter whose name is synonymous with boxing controversy, was indicted by a federal grand jury in New York for allegedly filing a false insurance claim involving a 1991 bout that was canceled because of injury.

Thursday's nine-count indictment, which could result in maximum five-year sentences and fines on each of the counts, alleges that, after Julio Cesar Chavez cut his nose before he could fight Harold Brazier, King lied to Lloyd's of London about his contract with Chavez in order to collect $350,000 from the London-based insurance carrier.

King, who has promoted former heavyweight champions Muhammad Ali and Mike Tyson among a long list of fighters, is scheduled to be arraigned July 21.

"I am completely innocent," King said in a written statement released Thursday afternoon.

Michael Marley, a spokesman for Don King Productions, said the indictments will not disturb pending promotions, among them a Sept. 17 fight between Chavez and Meldrick Taylor.