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#1
Old 07-21-2011, 10:03 PM
Seleção No. 13
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Default VisionQwest Investigation Reveals Interesting Information on Koncz

Not sure if I believe this yet. It's from fight hype and they've supposedly taken this info from a "knowledgeable source".

http://fight hype.com/pages/content10369.html

Yesterday's news that VisionQwest Resource Group would now be handling all accounting and contract reviews for Manny Pacquiao may have come as a surpise to many, but the company has actually been working with the pound-for-pound champion for quite some time now. Back in December of 2010, VisionQwest Global Group, a division of VisionQwest Resource Group, Inc., began working with the eight-divison world champion in order to secure endorsement deals in both the United States and in other global venues. According to a source with knowledge of the company's relationship with Pacquiao, however, even before that time, an investigation into his financial affairs had already began. "The decision to have VisionQwest handle Manny's matters was not spur of the moment. It was based on solid, concrete paperwork that was submitted by Manny himiself," the source explained. Evidently, after nearly a year-long investigation, information has come back that has prompted Pacquiao to take a much closer look at individuals who were previously involved in his business dealings, namely his long-time adviser, Michael Koncz.

"Their investigation is still ongoing, and it will be for quite some time, but it looks like there were deals being made and money being paid behind Manny's back," the source continued. "Based on all the evidence turned in, it was determined that Michael Koncz has received a substantial amount of unauthorized money. That's the reason why he is being relieved of his role as Manny's representative to Top Rank." According to another source, that might explain why Koncz himself previously tried to hire an entirely different accounting firm for Pacquiao at one point. "He actually tried to hire another accounting company. Michael has been trying to get them out of the picture, VisionQwest, for a long time," the source revealed.

Whether or not any of this evidence actually points to impropriety remains to be seen, however, it's clear that Manny Pacquiao is taking a much closer look at everyone involved in both his boxing career and his business ventures, especially if his net worth is a mere (PLEASE note the sarcasm) $26 million, as pointed out in an article by Paul Magno of The Boxing Tribune. While that's still a considerable amount of money, with another multi-million dollar payday on the horizon, perhaps now more than ever is a good time for the Congressman of Sarangani to start counting his pennies after having already earned more than $80 milllion in purses.

Michael Koncz is slated to meet with Pacquiao any day now regarding the November 12th fight with Juan Manuel Marquez. Although Pacquiao himself has confirmed that the long-time adviser has not been fired from the team, it's unclear as to what kind of role he will play now that VisionQwest will be much more involved in reviewing contracts. An extremely close friend of Pacquiao, or a "FOP" as one fight scribe would call him, commented, "Mike was trusted and he is a despicable human being."

It should be interesting to see how this all plays out over the coming weeks.

Last edited by Seleção No. 13; 07-21-2011 at 10:05 PM.
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#2
Old 07-21-2011, 10:09 PM
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Originally Posted by Seleção No. 13 View Post
Not sure if I believe this yet. It's from fight hype and they've supposedly taken this info from a "knowledgeable source".

http://fight hype.com/pages/content10369.html

Yesterday's news that VisionQwest Resource Group would now be handling all accounting and contract reviews for Manny Pacquiao may have come as a surpise to many, but the company has actually been working with the pound-for-pound champion for quite some time now. Back in December of 2010, VisionQwest Global Group, a division of VisionQwest Resource Group, Inc., began working with the eight-divison world champion in order to secure endorsement deals in both the United States and in other global venues. According to a source with knowledge of the company's relationship with Pacquiao, however, even before that time, an investigation into his financial affairs had already began. "The decision to have VisionQwest handle Manny's matters was not spur of the moment. It was based on solid, concrete paperwork that was submitted by Manny himiself," the source explained. Evidently, after nearly a year-long investigation, information has come back that has prompted Pacquiao to take a much closer look at individuals who were previously involved in his business dealings, namely his long-time adviser, Michael Koncz.

"Their investigation is still ongoing, and it will be for quite some time, but it looks like there were deals being made and money being paid behind Manny's back," the source continued. "Based on all the evidence turned in, it was determined that Michael Koncz has received a substantial amount of unauthorized money. That's the reason why he is being relieved of his role as Mann's representative to Top Rank." According to another source, that might explain why Koncz himself previously tried to hire an entirely different accounting firm for Pacquiao at one point. "He actually tried to hire another accounting company. Michael has been trying to get them out of the picture, VisionQwest, for a long time," the source revealed.
Whether or not any of this evidence actually points to impropriety remains to be seen, however, it's clear that Manny Pacquiao is taking a much closer look at everyone involved in both his boxing career and his business ventures, especially if his net worth is a mere (PLEASE note the sarcasm) $26 million, as pointed out in an article by Paul Magno of The Boxing Tribune. While that's still a considerable amount of money, with another multi-million dollar payday on the horizon, perhaps now more than ever is a good time for the Congressman of Sarangani to start counting his pennies after having already earned more than $80 milllion in purses.

Michael Koncz is slated to meet with Pacquiao any day now regarding the November 12th fight with Juan Manuel Marquez. Although Pacquiao himself has confirmed that the long-time adviser has not been fired from the team, it's unclear as to what kind of role he will play now that VisionQwest will be much more involved in reviewing contracts. An extremely close friend of Pacquiao, or a "FOP" as one fight scribe would call him, commented, "Mike was trusted and he is a despicable human being."

It should be interesting to see how this all plays out over the coming weeks.
I think they will investigate whether this Michael character was stealing money from Pacquiao during his employment as an adviser.
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Old 07-21-2011, 10:13 PM
Seleção No. 13
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Btw I wouldn't take the reports on his $26 million net worth too seriously.

http://www.abs-cbnnews.com/sports/07...osing-millions
"Oh, really? So that's why I was able to buy a house in Forbes.," Pacquiao said, referring to the P388-million ($9.1 million) mansion he purchased in Forbes Park in Makati City.
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Old 07-22-2011, 12:19 AM
Gino Ros
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Originally Posted by Seleção No. 13 View Post
Btw I wouldn't take the reports on his $26 million net worth too seriously.

http://www.abs-cbnnews.com/sports/07...osing-millions
"Oh, really? So that's why I was able to buy a house in Forbes.," Pacquiao said, referring to the P388-million ($9.1 million) mansion he purchased in Forbes Park in Makati City.
Buying a house has nothing to do with your net worth, Mr. Illiterate Congressman.
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Old 07-22-2011, 12:29 AM
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Buying a house has nothing to do with your net worth, Mr. Illiterate Congressman.
OMG!!! are people this dumb ?
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#6
Old 07-22-2011, 12:32 AM
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Manny Pacquiao's Entourage at War Again While Net Worth and Tax Talk Swirls

Maybe Manny should just let Paris handle his business. (Photo by Ethan Miller/Getty Images)

Maybe Manny should just let Paris handle his business. (Photo by Ethan Miller/Getty Images)

According to just about everyone with any knowledge, the businessmen, hangers-on, and the rest of the folks around Manny Pacquiao are once again squabbling, though as usual it doesn't seem to actually be bothering Manny himself.

Michael Marley has been all over this story (as he's usually all over anything Pacquiao-related). Here are a few key points:

There are still a lot of rumors that Michael Koncz is on his way out. Bob Arum says that Pacquiao's lawyer Franklin Gacal is stirring up much of this, with MP8.com web site operator Timothy James Sladeck involved and going head-to-head with Koncz, who he has openly criticized and even insulted, though not in any particularly harsh manner. Nothing Sladeck has said about Koncz hasn't been said before.
Arum says he trusts Koncz ("he's a very honest guy") but sounds a lot less trustworthy of Gacal or Sladeck. Sladeck (and perhaps Gacal) believe Koncz is a puppet for Arum.
Longtime boxing adviser Jose Castillo is involved as a potential replacement on the team for Koncz. He is "aligned with" the Sladeck/Gacal side, and used to work with Marco Antonio Barrera and Edwin Valero. Castillo once sued Barrera, but got nothing.
Sladeck is, according to Marley, an ex-con with what appear to be shadier intentions than his stated goal of just running the web site. I have no idea who Sladeck is beyond what's being talked about by Marley and Arum seeming fairly dismissive of his presence, but Arum is fairly dismissive of a lot of things. Conference calls, for example. He hates them.
Pacquiao is being audited for 2006 and 2007 taxes in the U.S., but Arum says it's nothing to worry about and mostly a formality that will give Manny money, not take any from him. Official documents in the Philippines say Manny has a net worth of "only" $26 million, for whatever that's worth.

The net worth and tax issues are not something I'm that interested in right now. He's still in good shape financially and Arum says that he also owns a lot of property that he's not sure is being accounted for, and whatever. Still, I would be a little surprised if he's actually got a lot more than that, as Arum says he does. Pacquiao spends a lot of money. And a lot of it goes to good causes. Some of it goes to extravagance, and some of it goes to things that probably aren't necessary at all. It happens. He's a world-famous sporting icon. He likes nice stuff, and he's got an army on his payroll.

What does surprise me is that stuff like this keeps happening. I mean, I guess it doesn't surprise me, but it's a bit troublesome. Doesn't it seem like someone in Manny Pacquiao's shoes shouldn't be dealing with these issues? Arum mentioned Muhammad Ali's weird entourage as a comparison, but fighters have learned a lot over the years, and generally speaking seem to have gotten a little smarter about their money and where it's going, and about the guys hanging around them. Not all of them, and maybe not even a majority of them, but it just seems like it's better than it used to be among the top names at least.

But Pacquiao has this constant in-fighting and squabbling going on, and to be honest, a lot of these men really don't need to be there. This is about the fifth time that Koncz has been involved with some kind of controversy in the Pacquiao camp, and Jacal has had a few himself, usually involving Koncz. If this were a movie, and Manny were more cold, he'd probably just fire them both and replace them with people who shut up and do their jobs for the multi-millionaire who has made them semi-famous just by hanging around him.

It makes you wonder if there's really any captain of this ship. Years of lost endorsements and screw-ups by a mass of leeches resulted in Top Rank finally getting him someone who can properly handle that stuff, and you have to wonder if Arum's brain doesn't about melt with all this stuff, no matter how cool he plays it. It really seems like a lot of this is just nonsense that Pacquiao should not tolerate. He's a global superstar in 2011, why is he bothering all this turmoil around him?

Of course, maybe he's not really bothering with it at all, which may be the problem, or his only shield-like solution.
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Old 07-22-2011, 12:33 AM
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OMG!!! are people this dumb ?
Well he is a ***** after all.
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Old 07-22-2011, 12:33 AM
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Originally Posted by Gino Ros View Post
Buying a house has nothing to do with your net worth, Mr. Illiterate Congressman.
selling bananas wont even buy you a carton shack go sell more dominican homo
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Old 07-22-2011, 12:34 AM
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Originally Posted by Gino Ros View Post
Buying a house has nothing to do with your net worth, Mr. Illiterate Congressman.

this are examples or your assets
Home
Car
401(k)s, IRAs and pensions
Stocks, bonds and mutual funds
Artwork
Jewelry
Collectibles
Cash value of life insurance


minus
Car loan
Student loans
IRS debt
Credit card debt


whatever you have left is your net worth , did u even finish first grade ?
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Old 07-22-2011, 12:37 AM
Gino Ros
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Somebody should just teach Manny how to read.

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