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Boxing Promoter Avoids Revocation for Bribe7 May 2002ATLANTIC CITY, New Jersey – As reported by the ESPN: "Boxing promoter Bob Arum persuaded New Jersey regulators not to revoke his license 1½ years after he stopped doing business in the state for paying a $100,000 bribe. "An agreement scheduled for approval Wednesday by the state Casino Control Commission clears the way for Arum to resume doing business with Atlantic City casinos. He voluntarily stopped in November 2000. "Under terms of the agreement, Arum apologized for paying off former IBF chairman Robert W. Lee to sanction a 1995 fight between George Foreman and Axel Schulz. "…He testified that Lee demanded $200,000 from him in exchange for an IBF sanction for the fight. Only $100,000 was paid. "Arum, president of Top Rank Inc., was never charged criminally, but his testimony in the case caught the attention of New Jersey Division of Gaming Enforcement investigators, who said Arum's conduct constituted the equivalent of bribery and was grounds for revocation of his casino service industry license. "…Lee was convicted at trial on six corruption charges stemming from a 33-count indictment charging that the East Orange-based International Boxing Federation demanded payoffs from promoters…" |