The 51-year-old Duran, who testified that he retired from boxing three days ago with a career record of 104 wins and 16 losses, told a six-member jury in Miami that his estranged brother-in-law, Bolivar Iglesias, stole the belts and sold them to Luis Gonzalez-Baez.
However, Gonzalez-Baez said that he bought the belts for $3,000 US from a legitimate antiques dealer.
Gonzalez-Baez said he also bought other items from Duran's household from the same dealer.
Duran said he was living in the United States and left his brother-in-law to manage his estate in Panama City when Iglesias staged the burglary, in which everything was taken from the house, including the belts, curtains and front door.
Gonzalez-Baez was arrested by the FBI in 1995 for trying to sell Duran's stolen property for $2,000 to a sports memorabilia dealer in Long Island.
However, Gonzalez-Baez produced receipts from the dealer, and the charges were dropped.
Duran, the first fighter to win world titles in four weight classes, has not boxed since suffering a collapsed lung, several broken ribs and other injuries after a car crash in Argentina last October.
