MTK Global, the boxing management company that represents dozens of professional fighters, announced that it was ceasing operations on Wednesday. MTK had been under intense scrutiny after the U.S. Treasury Department announced sanctions against Daniel Kinahan, an alleged drug trafficker and a co-founder of the company.
Last week, the U.S. Treasury designated the Kinahan Organized Crime Group (KOGC), along with seven key members, as a “Blocking Property of Transnational Criminal Organizations.” The U.S. accused the KOGC of smuggling deadly narcotics, including cocaine, to Europe, and declared it “a threat to the entire licit economy through its role in international money laundering.