Manny Pacquiao dimisses rumors that he’s broke, explains he’s selling his Los Angeles mansion so he could buy a home in Beverly Hills

It’s all in the name of security.

ABS-CBNNews.com reports that Filipino boxing icon Manny Pacquiao has revealed that he is selling his mansion in Los Angeles because he and his wife are planning to buy another house in Beverly Hills, California. While malicious rumormongers were quick to allege that Pacman was "going broke," this is not the case.

 

According to the report, the Pacquiao couple are eyeing to purchase a house with a gate because their Los Angeles home-which has no gates-has been broken into by robbers in the past. The report pointed out that "in September 2011, four people were arrested after detectives saw the Pacquiao mansion being robbed. The boxer was in the Philippines at the time."

 

The mansion is listed on Realtor.com for $2.7 million, "meaning Pacquiao can make a $630,000 profit as the boxer purchased the house for $2.17 million back in 2009," the report said.

 

For more on this story, log on to ABS-CBNNews.com.

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