I truly hope the allegations are not true. I saw Magarito fight when he was 18 years old, against Alfred Ankamah at the Forum in LA, and was very impressed by his toughness. Ankamah- who was 14-2, 14KOs at the time- hit him a terrific shot to the liver and Magarito dropped; it was the kind of shot that ends fights. But he got up and kod Ankamah in the next round. He has never been the most skilled fighter, and if I stood up right now and threw a few punches, at least one is likely to hit him, but Magarito has always been very strong, tough and determined.
About the wraps... I'm not too clear on how that would work in the first place; I just can't picture how you could, in essence, put casts on a guys hands, have them harden in time for the fight, and then put gloves on over them. Also, wouldn't his arms get awfully heavy as the fight progressed? And Magarito didn't knock out too many guys early- in fact he tended to come on late. Did he, in theory, do this in every fight? How come he didn't stop Williams, then? He hit him with some really clean right hands...
In the Cotto fight, I thought Magarito would be too big and strong for Cotto and would stop him late anyway. Cotto didn't take punches all that well against Torres and his punch is the left hook to the body which means he's going to exchanging punches with a bigger stronger guy. I didn't see anything unexpected happen in that fight.