Philippine boxing superstar Manny Pacquiao has retained attorney Judd Burstein, who announced today that Pacquiao has filed suit against his promoter Murad Muhammad's M&M Sports, Inc. in federal court in New York City. The lawsuit alleges, among other things, that Muhammad and his companies worked with Pacquiao's business managers to transfer more than 30% of Pacquiao's purses to a shell company controlled by the business managers. The reason allegedly given to Pacquiao was that Pacquiao's taxes would be paid by the shell company, but the lawsuit claims that the tax monies were never actually paid and Pacquiao was left with a massive bill for back taxes, penalties and interest. As alleged in the complaint, the Internal Revenue Code required M&M Sports to withhold Pacquiao's tax monies from his purses but the defendants illegally diverted these funds. Through this scheme, the business managers allegedly were able to pocket 30% or more from Pacquiao's purses instead of the 10% they were entitled to. According to the complaint, this scheme was aided by M&M Sports' refusal to provide Pacquiao the information to which he is entitled by the Ali Act. "It has taken me awhile to come to terms with the fact that I have been cheated by people whom I trusted," stated Mr. Pacquiao regarding the lawsuit today. "I intend to see this suit to the bitter end so that I can recover every dollar that was stolen from me, as well as help protect other fighters from being taken advantage of by Mr. Muhammad. As for the immediate future, my fans can rest assured that I will be fighting soon, but not with Murad Muhammad or M&M Sports as my promoter. As of today, I have instructed my new management to begin negotiating for my next fight and fights thereafter. I will never fight again for Murad Muhammad and M&M Sports." MORE TO COME.