A Federal jury acquitted Don King of nine counts of
wire fraud yesterday in Manhattan, the "second time he was
tried on charges of attempting to defraud Lloyd's of London
insurance syndication out of $350,000 following cancellation
of a boxing match involving Julio Cesar Chavez," according
to Richard Sandomir of the N.Y. TIMES. The jury "could not
reach a verdict" concerning Don King Productions, which was
a defendant in the case along with King. However, the
Government "has chosen not to retry the company." Sandomir
reports that the verdict came after the trial had "plunged
into chaos" since Tuesday, after the forewoman of the jury
reported that one juror was "causing a deadlock." Dennis
Yager, the juror who "had pushed hard to convict King and
his company," changed his vote yesterday morning, and "said
little as he rushed from the courtroom" after the verdict
was announced (N.Y. TIMES, 7/10). In DC, Thomas Heath
reports that King now "likely will turn his attention toward
dealing with a potentially explosive" $100M suit filed
against him by former client Mike Tyson. Tyson is charging
that King "defrauded him of millions" (WASHINGTON POST,
7/10). A report on King's acquittal concluded last night's
"Moneyline", and CNN's Allan Dodds Frank called it a
"knockout victory" for King. Dodds Frank: "In a series of
civil and criminal cases ... King has largely escaped
judgment, earning him the nickname 'Teflon Don'" (CNN, 7/9).
WIN FOR BOXING? Top Rank Inc. President Bob Arum, on
King's court victory: "I think it's a very, very good thing
because I think boxing is in danger of being absolutely
ruined by networks like HBO that have been trying to
eliminate promoters and preventing major matches from
occurring" (Jay Searcy, PHILADELPHIA INQUIRER, 7/10).
