Boxing: Tua's new promoter facing fraud charges

By TERRY MADDAFORD

The man David Tua is pinning his hopes on to relaunch his boxing career is facing fraud charges brought by the United States Securities and Exchange Commission.

Cedric Kushner, a New York boxing promoter, was alongside Tua at a press conference in Auckland yesterday when the boxer announced his hopes of returning to the ring in August.

Tua said it would be Kushner's job to arrange his fights.

The commission last month filed a complaint in a New York district court against Kushner, his company Cedric Kushner Promotions and two other directors.

They are accused of violating reporting provisions of federal securities laws. The SEC notice alleges the company filed forged audit reports and false financial statements.

The commission wants Kushner and two of his associates, Jim DiLorenzo and Steven Angel, fined and barred from serving as officers or directors of public companies.

The South African-born promoter has denied the charges and declared his company will vigorously defend them.

David Tua's lawyer, Luke Kemp, who was also at the press conference, said Tua was aware of Kushner's background.

"None of this is particularly new," he said. "You will find world boxing in general is struggling."

Tua's former manager, Kevin Barry, dismissed amid accusations of cheating the boxer of $4 million, last night came out in support of Kushner.

"Cedric promoted David's last four fights," said Barry.

"I have known him for a long time. I thought he was a gentleman of integrity. He was one of those guys who, no matter how hard he tried, did not get the success he deserved.

"People found a way to deprive him of what he was due.

"The promoter-of-record agreement Martin Pugh and I had in place for David with Cedric is still in place," said Barry.


Asked last night about his success as a promoter of music and boxing, Kushner said: "I enjoy people but I think most important is knowing who you are as a person.

"I try to live with a certain credo. You don't necessarily have to be religious in the traditional sense but you have to believe in core values."

In his days as a music promoter Kushner had success booking bands such as Fleetwood Mac.