Comments Thread For: Pacquiao's Win Over Rios Overshadowed By Tax Dilemma

[radioraheem]

Deposits, meaning cash or cash equivalent. If he have 22 accounts, most are mutual fund and other investment. You dont use 22 bank accounts for checking. Some misleading reporters out there.

Stop trying to defend what's not there. You are really reaching. First you tried to deny that the Philippine government disclosed that amount, and would never do so. After that got disproven you still are trying to reach!

Anyway, Pacquaio can have 22 accounts for simple reasons. The first being bank limitations. Six figure and up people in the U.S. open many accounts all the time, with the big reason being that the FDIC used to only insure cash deposits of up to $100K per bank. They upped it to $250K per bank but it's going to return to $100K next month.

It's the Philippines also, where banks there don't have the greatest reputation internationally, aren't as well funded as Western based economies (US, Europe), and aren't insured by their government. It's likely that his advisers recommended he spread his cash throughout many different banks to minimize risk. Not a dumb thing to do at all. Pacquaio obviously just runs through his money like it's nothing though.

[PAC-BOY]

Its never Manny's fault, its always someone else.

Im glad to see you are finally coming to your senses!

[R_Walken]

Stop trying to defend what's not there. You are really reaching. First you tried to deny that the Philippine government disclosed that amount, and would never do so. After that got disproven you still are trying to reach!

Anyway, Pacquaio can have 22 accounts for simple reasons. The first being bank limitations. Six figure and up people in the U.S. open many accounts all the time, with the big reason being that the FDIC used to only insure cash deposits of up to $100K per bank. They upped it to $250K per bank but it's going to return to $100K next month.

It's the Philippines also, where banks there don't have the greatest reputation internationally, aren't as well funded as Western based economies (US, Europe), and aren't insured by their government. It's likely that his advisers recommended he spread his cash throughout many different banks to minimize risk. Not a dumb thing to do at all. Pacquaio obviously just runs through his money like it's nothing though.

Everything your typing is the truth just some people on this site cant handle any disparaging comments towards their personal Jesus even if no fault of his own. Manny is perfect in every way these people version of reality is so distorted you can't talk common sense to them Because they will either make up facts or straight up lie to believe their own opinion

[GRUSTLER]

Sounds like a case of Manny Pacquiao getting robbed by his own people. Seriously though why should Arum and HBO have anything to do with Pacquiao's finances?

[Slip Stream]

Manny Pacquiao took the first step towards exorcising past ring demons with a 12-round whitewash of Brandon Rios this past Saturday in Macau.

However, the blow delivered to him in the aftermath could prove more devastating than the one that initially forced him on the comeback trail.

Pacquiao was anticipating a hero’s welcome in his native Philippines, along with a planned visit to the areas suffering the most damage from Typhoon Kaiyan. One of the most severe typhoons on record, the disaster ripped through the nation’s center, killing more than 5,200 people and displacing another 3 million people from their homes. [Click Here To Read More]

This isn't new, how many people live beyond their means or have to work under a strict contract that ultimately renders them penniless? Manny isn't as business savvy as Mayweather but both are more than probably going to end up broke.