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 Post subject: Where is Arum now?
PostPosted: Wed Dec 11, 2013 9:46 am 
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Location: 21st Century City SHANGHAI!
I think Arum and his men have something to explain, what it is and how it happened. Ano kaya ang reason 'IF EVER' na tutuo ang balita. Lets wait and see. EXPLAIN, EXPLAIN!

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 Post subject: Re: Where is Arum now?
PostPosted: Wed Dec 11, 2013 9:48 am 
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Akala ko ba sabi nila automatic yung kaltas ni Manny sa tax?
anong nangyari?

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 Post subject: Re: Where is Arum now?
PostPosted: Wed Dec 11, 2013 9:56 am 
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Isn't it obvious? Pac's just too naive and gullible. I love pac but he is a puppet. I hope this opens up his eyes and do something about it but knowing pac's attitude he might not. Pac is a good and humble person but he is too humble.

When VisionQwest found some problems on his finances Arum and Koncz quickly convinced manny to fire them and manny just foolisly complied. :( :(


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 Post subject: Re: Where is Arum now?
PostPosted: Wed Dec 11, 2013 9:57 am 
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HoTsHoT23 wrote:
Isn't it obvious? Pac's just too naive and gullible. I love pac but he is a puppet. I hope this opens up his eyes and do something about it but knowing pac's attitude he might not. Pac is a good and humble person but he is too humble.

When VisionQwest found some problems on his finances Arum and Koncz quickly convinced manny to fire them and manny just foolisly complied. :( :(


This.

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 Post subject: Re: Where is Arum now?
PostPosted: Wed Dec 11, 2013 10:13 am 
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I still cant believe that its all happening. Im just curious about Arums explanation about it. I just hope it aint too deep or else Pacs in BIG TROUBLE.

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::::: GODSPEED PACTEAM™ :::::
::::: GO new PACLAND™ and PACLANDERS™ :::::
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 Post subject: Re: Where is Arum now?
PostPosted: Wed Dec 11, 2013 12:44 pm 
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Location: CIA Agent Doc, #011, PB#464 Imus,Cavite
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 Post subject: Re: Where is Arum now?
PostPosted: Wed Dec 11, 2013 1:21 pm 
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Of course Arum did a hocus focus on these mess, kawawang Manny...ala Tyson na... :lol: :lol:


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 Post subject: Re: Where is Arum now?
PostPosted: Wed Dec 11, 2013 1:24 pm 
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Light Heavyweight

Joined: Tue Mar 06, 2012 10:50 pm
Posts: 1018
Arum is so smart, he is protected from all of this.

This is an issue between Pacquiao and his accountant/advisers.

This is how it works.

1. Top Rank says they are paying Pacquiao 20M for one fight, plus share of PPV.
2. They withheld 30% of the 20M, and pay 6M to the IRS.
3. Pacquiao's accountants (hired by Koncz/Gacal) files Manny's Income Tax Return.
4. They claim all sorts of deduction and training/business related expenses to show in the ITR that Pacquiao deserves a tax credit that would lower his tax liability from the original 30% to a lower number, (lets say as low as 20% just for example).
5. The accountants probably did this thinking it will be approved, they might have done that in good faith, or they might have done that, knowing that these are IRS red flags and will be subject for auditing. Either way, they will get paid.
6. Koncz and Gacal and maybe Pacquiao reviews and approves the income tax return and submits it to the IRS.
7. IRS accepts the ITR, and on the surface approves the deductions stated in the ITR. Now Pacquiao will get a refund, 1/3 of what was withheld and paid to the IRS (2M).
6. A few years shortly IRS audits Pacquiao's Income tax return and find all these questionable deductions that was applied.
7. They demand that the 2M refunded to Pacquiao (or percentage of it) is returned to IRS because the deductions claimed is invalid.
8. They garnish Pacquiao's US assets and put a lien on his properties.
9. Koncz and Gacal suffers timely heart attacks.
10. Team Pacquiao hires lawyers to negotiate what deductions is acceptable to the IRS.
11. In the end, Pacquiao and IRS will settle on an amount that Pacquiao still owes the IRS.

Pacquiao can try to sue the accountants, maybe Koncz and Gacal too, hoping he could get money from them to pay the settlement with the IRS. He will not get any money from them.

Now only way Arum can be dragged into this is if there is proof that he fudge the PPV numbers and fleeced Pacquiao on that end.


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 Post subject: Re: Where is Arum now?
PostPosted: Wed Dec 11, 2013 2:20 pm 
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Heavyweight
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Joined: Mon Jan 10, 2005 10:56 am
Posts: 22787
Location: Paradise
HoTsHoT23 wrote:
Isn't it obvious? Pac's just too naive and gullible. I love pac but he is a puppet. I hope this opens up his eyes and do something about it but knowing pac's attitude he might not. Pac is a good and humble person but he is too humble.

When VisionQwest found some problems on his finances Arum and Koncz quickly convinced manny to fire them and manny just foolisly complied. :( :(

VQ is laughing now.
Hell, Koncz even used VQ's money to buy a house.


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 Post subject: Re: Where is Arum now?
PostPosted: Wed Dec 11, 2013 2:24 pm 
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Heavyweight
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Joined: Mon Jan 10, 2005 10:56 am
Posts: 22787
Location: Paradise
bringpacmantobigd wrote:
Arum is so smart, he is protected from all of this.

This is an issue between Pacquiao and his accountant/advisers.

This is how it works.

1. Top Rank says they are paying Pacquiao 20M for one fight, plus share of PPV.
2. They withheld 30% of the 20M, and pay 6M to the IRS.
3. Pacquiao's accountants (hired by Koncz/Gacal) files Manny's Income Tax Return.
4. They claim all sorts of deduction and training/business related expenses to show in the ITR that Pacquiao deserves a tax credit that would lower his tax liability from the original 30% to a lower number, (lets say as low as 20% just for example).
5. The accountants probably did this thinking it will be approved, they might have done that in good faith, or they might have done that, knowing that these are IRS red flags and will be subject for auditing. Either way, they will get paid.
6. Koncz and Gacal and maybe Pacquiao reviews and approves the income tax return and submits it to the IRS.
7. IRS accepts the ITR, and on the surface approves the deductions stated in the ITR. Now Pacquiao will get a refund, 1/3 of what was withheld and paid to the IRS (2M).
6. A few years shortly IRS audits Pacquiao's Income tax return and find all these questionable deductions that was applied.
7. They demand that the 2M refunded to Pacquiao (or percentage of it) is returned to IRS because the deductions claimed is invalid.
8. They garnish Pacquiao's US assets and put a lien on his properties.
9. Koncz and Gacal suffers timely heart attacks.
10. Team Pacquiao hires lawyers to negotiate what deductions is acceptable to the IRS.
11. In the end, Pacquiao and IRS will settle on an amount that Pacquiao still owes the IRS.

Pacquiao can try to sue the accountants, maybe Koncz and Gacal too, hoping he could get money from them to pay the settlement with the IRS. He will not get any money from them.

Now only way Arum can be dragged into this is if there is proof that he fudge the PPV numbers and fleeced Pacquiao on that end.

Koncz is a disbarred Canadian lawyer. How in the fkkn world did Gacal let Manny hire that clown ?
Wait, Gacal is a clown too. He let Manny sign two promotional contracts .

TEAM PACQUIAO ???? You mean Bob Arum . Arum recommended the lawyer ( the one who sued the Mayweathers ) and accountants to Pac after he had him fire VQ.


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 Post subject: Re: Where is Arum now?
PostPosted: Wed Dec 11, 2013 2:27 pm 
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Heavyweight
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Joined: Mon Jan 10, 2005 10:56 am
Posts: 22787
Location: Paradise
Lost in all of this is Arum has been pocketing 100% of foreign broadcast rights to all of Pac's fights .
He sold Pac's fights in the middle east where he has some dummy company, he pays zero taxes.
Hmm, how about Europe and Asia broadcast ?
The ads in the ring ?
Casino sight fees ?
Why does he even deserve a cut of the PPV revenue after all of that ?
Rock concert promoters get 20% of the bottom line . Arum ? :shock:


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 Post subject: Re: Where is Arum now?
PostPosted: Wed Dec 11, 2013 2:31 pm 
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Light Heavyweight
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Joined: Mon Nov 05, 2007 7:58 pm
Posts: 1924
Gacal knew that the whole mess he has created with Koncz would be exposed. So he coaxed a heart attack to escape Manny's wrath and prosecution.

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 Post subject: Re: Where is Arum now?
PostPosted: Wed Dec 11, 2013 2:33 pm 
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Heavyweight
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Joined: Mon Jan 10, 2005 10:56 am
Posts: 22787
Location: Paradise
pranzer wrote:
Gacal knew that the whole mess he has created with Koncz would be exposed. So he coaxed a heart attack to escape Manny's wrath and prosecution.

Maybe that's his karma.
Koncz had a mini stroke too.
Fkkrs deserved it.


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 Post subject: Re: Where is Arum now?
PostPosted: Wed Dec 11, 2013 2:35 pm 
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Light Heavyweight

Joined: Tue Mar 06, 2012 10:50 pm
Posts: 1018
JoeyInCali wrote:
bringpacmantobigd wrote:
Arum is so smart, he is protected from all of this.

This is an issue between Pacquiao and his accountant/advisers.

This is how it works.

1. Top Rank says they are paying Pacquiao 20M for one fight, plus share of PPV.
2. They withheld 30% of the 20M, and pay 6M to the IRS.
3. Pacquiao's accountants (hired by Koncz/Gacal) files Manny's Income Tax Return.
4. They claim all sorts of deduction and training/business related expenses to show in the ITR that Pacquiao deserves a tax credit that would lower his tax liability from the original 30% to a lower number, (lets say as low as 20% just for example).
5. The accountants probably did this thinking it will be approved, they might have done that in good faith, or they might have done that, knowing that these are IRS red flags and will be subject for auditing. Either way, they will get paid.
6. Koncz and Gacal and maybe Pacquiao reviews and approves the income tax return and submits it to the IRS.
7. IRS accepts the ITR, and on the surface approves the deductions stated in the ITR. Now Pacquiao will get a refund, 1/3 of what was withheld and paid to the IRS (2M).
6. A few years shortly IRS audits Pacquiao's Income tax return and find all these questionable deductions that was applied.
7. They demand that the 2M refunded to Pacquiao (or percentage of it) is returned to IRS because the deductions claimed is invalid.
8. They garnish Pacquiao's US assets and put a lien on his properties.
9. Koncz and Gacal suffers timely heart attacks.
10. Team Pacquiao hires lawyers to negotiate what deductions is acceptable to the IRS.
11. In the end, Pacquiao and IRS will settle on an amount that Pacquiao still owes the IRS.

Pacquiao can try to sue the accountants, maybe Koncz and Gacal too, hoping he could get money from them to pay the settlement with the IRS. He will not get any money from them.

Now only way Arum can be dragged into this is if there is proof that he fudge the PPV numbers and fleeced Pacquiao on that end.

Koncz is a disbarred Canadian lawyer. How in the fkkn world did Gacal let Manny hire that clown ?
Wait, Gacal is a clown too. He let Manny sign two promotional contracts .

TEAM PACQUIAO ???? You mean Bob Arum . Arum recommended the lawyer ( the one who sued the Mayweathers ) and accountants to Pac after he had him fire VQ.



sad to say bro, but that is team Pacquiao.
Arum, Gacal & Koncz are all lawyers....
"A lawyer with his briefcase can steal more than a hundred men with guns." - Don Corleone


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 Post subject: Re: Where is Arum now?
PostPosted: Wed Dec 11, 2013 6:02 pm 
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Light Heavyweight

Joined: Sat Jul 01, 2006 5:49 am
Posts: 1054
In the end, Arum, just like Don King, will be liable for nothing.
And Manny will be left like Mike Tyson.


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