Loreto, 24, successfully defended his light flyweight title by stopping Joyi in the very first round, but since then both fighters have not received their purses.
In a statement released to WBN on Monday, the IBO said the following:
Despite numerous assurances, deadlines and promises, as of this date Mamali Productions has failed to make good on it’s commitment to pay the fighters, officials and sanction fees for the March 22nd tournament.
The IBO encourages Boxing South Africa to take appropriate steps against this promoter in South Africa pending legal action taken by Loreto’s management and to avoid further embarrassment and damages to the participants.
