Report: Manny Pacquiao's bank accounts frozen following allegations of tax evasion

Uh oh.

Top boxing star Manny Pacquiao has generated millions of dollars over the course of his combat sports career, including an $18 million payday for his unanimous decision win over Brandon Rios last Saturday night (Nov. 23, 2013) at Venetian Macao in Macao, China (highlights).

Unfortunately, he won't get to spend any of it.

That's because "Pac Man" is being targeted by the tax bureau in his native Philippines, who froze his accounts after he allegedly failed to pay $50.2 million in taxes for his fights in the United States from 2008 through 2009, according to a report from Yahoo Sports.

Says Pacquiao:

"This is harassment. I am not a criminal or a thief. I am not hiding anything. I will face my problems as they come. I have already paid my taxes in America. Had I not paid the correct taxes they (US authorities) would have come after me and I would not have been able to travel there."

Let's hope he saved those receipts.

The longtime pugilist is exempt from paying taxes is both places (U.S. and Philippines), according to the report, thanks to a law that prevents citizens of both nations from being assessed twice on their income. Unfortunately, Pacquiao's local tax bureau has rejected documents that prove he already paid the stateside piper.

Until the appeals court makes a decision, "Pac Man" will be forced to live like a pauper.

More on this in the coming days.

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