Here's what the UP wrote about the fight:
"The technical knockout which Billy Fox scored over Jake LaMotta in the fourth round last night caused raised eyebrows in the boxing industry today. Widespread reports of a fix, which received official recognition, robbed, for the time being at least, the glory which naturally would have gone to Fox for becoming the first boxer ever to knock out the tough battler from the Bronx.
There was no question of Fox's victory and the dynamite which the Philadelphia negro packed in his fists. But there were doubting Thomases among the persons who paid to see the bout at Madison Square Garden, for a lot of maneuvering went on before the fighters stepped into the ring. Early in the week there were whispers that the 'fix' was on. Then, late yesterday, after the odds had been 6 to 5 and pick 'em, the betting changed and Fox became an 11 to 5 favorite. Three hours before ring time the odds on Fox soared to 3 to 1 and bookies refused to accept any more Fox money, although they took wagers on LaMotta.
The rumors of the fix became so persistent in the Garden corridors then, that chairman Eddie Eagan of the New York Boxing Commission twice went to the dressing rooms of the boxers to warn them. He was not available for comment after the fight, but a spokesman of the commission said that so far as he knew the commission was satisfied with the bout. He emphasized, however, that he had not spoken to Eagan.
LaMotta was fined and suspended after an investigation by the NYSAC.
Simply put, you don't lie to Congress. They already know the answers before they ask them to you. You lie, and you go to prison. He had absolutely nothing to gain by saying that he'd accepted $20,000 and a title shot in exchange for throwing the fight. Also, Billy Fox - who was managed by none other than Blinky Palmero - testified that in another fight, he was totally exhausted, but that his trainer told him just to go out there. His opponent simply fell without being touched by Fox.
Sports Illustrated covered that in 1961.