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Posted at 01:40 PM ET, 11/17/2011

House owned by boxer Ivan Calderon raided for $4 million worth of cocaine by U.S. agents

United States federal agents seized nearly 500 pounds of cocaine during a raid at a house in Puerto Rico owned by professional boxer Ivan Calderon.

According to Drug Enforcement Administration spokeswoman Laila Rico, the 225 kilograms of cocaine are worth more than $4 million.

On Wednesday Calderon issued a statement to Puerto Rican television station WAPA-TV denying any knowledge of the drugs and saying the home was one of several investment properties.

According to the Associated Press, the raid took place earlier in the week after an alleged Puerto Rican drug trafficker charged with smuggling cocaine into the U.S. through the Dominican Republic was arrested in Miami.

Calderon was unbeaten in his professional career until losing consecutive fights to Giovanni Segura in Aug. 2010 and last April.

In July, former NBA player and fellow Puerto Rican Jose “Piculin” Ortiz was arrested after police found 218 marijuana plants and 40 rounds of ammunition at his home in Cayey. The plants were reported to be worth $150,000 — chunk change compared to this — and landed Ortiz in prison after he pleaded guilty to drug charges.

Earlier this month a judge revoked his bail saying the former national team star had tested positive for... you guessed it: cocaine. Ortiz was previously freed on bail while he awaited his sentencing. He has already been ordered to speak to schools about the dangers of drugs as part of his 600 hours of community service sentence.

By  |  01:40 PM ET, 11/17/2011

 
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