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Boxer $30 million in debt

 
Posted April 11th, 2014 @ 3:30pm

Photo Credit: Getty Images

 

According to the The Ring, former three division champion Felix “Tito” Trinidad is broke after finding out that his good friend and investment advisor Jose “Pepe” Ramos squandered over $63 million on now worthless government bonds. Moreover, Ramos was hired as a consultant by three different investment funds (Wells Fargo Advisor, UBS and Popular Securities) while managing the fighters $85 million in earnings and now being the blame for a series of bad investment decisions made without consulting with  Trinidad and his father Felix Trinidad Sr. (former trainer/manager).

 

Yesterday, Trinidad’s legal team presented a petition of interdiction in San Juan asking for a mediation by the Financial Industry Regulatory Authority (FINRA).Now allegedly he has about $9 million in assets but almost $30 million in debt.

 

 

 

 

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