IBO CHAMP REY LORETO FILES COMPLAINT OVER UNPAID PURSE
By Manny Piñol
PhilBoxing.com
Fri, 10 Apr 2015
International Boxing Organization (IBO) world junior flyweight champion Rey Loreto has filed a formal complaint with the Philippines Games and Amusements Board (GAB) against a South African boxing promoter who failed to pay his prize money amounting to $42,000, roughly P2-M.
Loreto, 23, filed the complaint exactly 17 days after he knocked out South African challenger Nkosinathi Joyi in East London, South Africa in the first round to successfully defend his title on March 24.
It was Loreto's first defense of the title he won in February last year by a 3rd round knockout of Joyi in Monaco.
South African boxing promoter Siphatho Handi, who is also the manager of Joyi, failed to remit the amount of $45,000 representing Loreto's purse and that of another Filipino boxer, Jetly Purisima, who fought in the undercard of the championship bout but lost a 10-round bout by decision.
Games and Amusements Board (GAB) Chairman Juan Ramon Guanzon, reacting to the complaint filed by Loreto, said the Commission will immediately communicate with its South African counterpart, Boxing South Africa, and the IBO to resolve the problem.
Handi, shortly before the weigh-in on March 23, informed me, as chief executive officer of Sonshine Sports Management which is Loreto's contractual promoter, that the financial support of the Eastern Cape Government for his boxing promotion was delayed but promised that the money would be ready by March 25.
When informed by Handi of the development, I immediately asked Loreto and his trainer, Joven Jorda, and boxer Purisima to be present during a meeting called by the South African promoter.
Present during the meeting were Handi, IBO supervisor Len Hunt, Boxing South Africa supervisor Phakamile Jacobs, the representative of the Eastern Cape Government, Loreto, Jorda, Purisima and myself.
After receiving assurances from the promoter, the BSA supervisor, the IBO representative and the Eastern Cape government representative that the purse would be paid after the fight, I asked Loreto and Purisima, if they were willing to fight even without the purse being paid before the fight.
When the boxers agreed to fight, I asked the promoter to prepare a promissory note that the purse would be transferred to my Philippine bank account on March 25.
When the money was not transferred on March 25, Handi sent an email message addressed to me, IBO President Ed Levine and IBO supervisor Len Hunt that the money from the Eastern Cape government was delayed and that the new transfer date was April 7.
Sensing that Handi could not live up to his commitment, I immediately sought the help of some South African boxing men to find South African lawyers to protect the interests of the Filipino boxers.
A South African law firm, Stan Fanaroff and Associates, has agreed to represent the boxers and their managers and promoters.
Submitted to the law firm were the fight contracts signed by Loreto and his manager, Brico Santig, and Purisima, who I represented, with Handi, and the promissory note signed by Handi.
Photo: South African boxing promoter Siphatho Handi stands between Loreto and Joyi after the weigh-in in East London, South Africa March 23.
Click here to view a list of other articles written by Manny Piñol.
Recent PhilBoxing.com In-House articles:
Junior, Youth and Elite Divisions Awarded on Final Day of 2025 USA Boxing National Championships
Mon, 15 Dec 2025Jean Henri Lhuillier Applauds Cebuana Lhuillier Ambassadors for Bronze Finish at SEA Games 2025
Mon, 15 Dec 2025NOEL MIKAELIAN DETHRONES BADOU JACK TO BECOME THE NEW WBC CRUISERWEIGHT WORLD CHAMPION
Sun, 14 Dec 2025FM Alekhine Nouri tops Kamatyas chessfest
By Marlon Bernardino, Sun, 14 Dec 2025Dante Kirkman Dominates DePriest Johnson in Unanimous Victory at Fight Club OC
Sun, 14 Dec 2025Bantam and Intermediate Divisions Crowned on Day Five of 2025 USA Boxing National Championships
Sun, 14 Dec 2025Murat Gassiev Brutally Knocks Out Kubrat Pulev in Dubai
By Dong Secuya, Sat, 13 Dec 2025United States Air Force Paralegals: Law, Order, and Excellence
By Emmanuel Rivera, RRT, Sat, 13 Dec 2025OFFICIAL WEIGHTS AND RUNNING ORDER FOR PACHECO VS SADJO IN STOCKTON
Sat, 13 Dec 2025OFFICIAL WEIGHTS FROM TODAY'S CHM: 2 REMATCH SEASON CEREMONIAL WEIGH-INS IN DOWNTOWN LOS ANGELES
Sat, 13 Dec 2025Donaire to fight Tsutsumi on December 17 in Japan
By Lito delos Reyes, Sat, 13 Dec 2025Nesthy faces Indon legend
By Joaquin Henson, Sat, 13 Dec 2025Bob Santos Joins Broadcast Team for Boxlab Promotions’ “Night of Champions XIII” During WBA’s 104th Annual Convention
Sat, 13 Dec 2025Championship Bouts Set for the Bantam and Intermediate Division
Sat, 13 Dec 2025SEAG Triathlon, aquathlon, duathlon in Rayong
By Lito delos Reyes, Sat, 13 Dec 2025