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KING FACES SECOND TRIAL FOR FRAUD; IS ARUM'S GATE EXPANDING?
Published April 15, 1998
Federal prosecutors on Monday opened their insurance fraud case against boxing promoter Don King by "telling a racially mixed jury that King didn't fight fair in his rise to the top of the boxing world," according to Greg Smith of the N.Y. DAILY NEWS. This will be the second attempt by the government to try King "on charges that he stole $350,000 from Lloyd's of London" in '91. The first trial ended in a hung jury in '95. The second trial is expected to last two months, and if convicted, King faces five years in prison and $250,000 in fines (N.Y. DAILY NEWS, 4/14). FOCUS ON ARUM: In FORBES, Peter Spiegel writes that with King "badly wounded," Bob Arum "looks poised to succeed him at the peak of the pugilism industry." Even if King is "cleared, he has little chance of topping Arum," who has a "near lock on the growing loyal Hispanic market," with the "hottest young boxer in the world," Oscar De La Hoya, "on Arum's roster" (FORBES, 4/20 issue). In Boston, Ron Borges wrote that Arum "claims to have persuaded" execs at Circus Circus in Las Vegas to increase a planned 8,000-seat arena they are building on Mandalay Bay to 12,000-seats. He said that Mandalay Bay Resort could land a "big show" to open its new hotel next March or April (BOSTON GLOBE, 4/12).