| BoxingTalk Story |
 |
10/08/2006
Edited Press Release: According to the WBC, the beneficiaries of former Colombian boxer Jimmy Garcia, who passed away in 1995 after challenging Gabriel Ruelas for the WBC 130-pound title, are not receiving money from a trust fund that was set up for them. Garcia left behind three children by two women, and those five were supposed to benefit from a WBC life insurance policy. According to the WBC, an arbitration has been commenced in Colombia for mismanagement of the trust fund. According to the WBC, "the case will be litigated by lawyer Gloria Meneses Perez against Fiduagraria, the fiduciary which apparently has not handled the trust in a professional manner. The interest accrued by the trust is apparently going to people other than those legally appointed as beneficiaries." Garcia passed away with a record of 32-5 and losses in world title challenges in his last two bouts. Garcia had just two or three good wins on a padded record and then got consecutive world title challenges against Genaro Hernandez, a fight he lost by a wide margin, and then Ruelas before losing his life as a result of injuries suffered against Ruelas. Although the WBC has done plenty to support Garcia's family, perhaps the practice of allowing boxers to challenge for world titles coming off losses should be restricted.
