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Nitpick: "it means that George could not run any more because..." Nowhere do I see any indication that George is engaged in the activity of "running". He could be performing any activity physical, such as climbing, bicycling, jumping, dancing, etc. I point this out because the "running" in "running out of breath" has no relation to the activity of running specifically.
Here is a very natural example (using "she" rather than "it") where the pronoun comes before the noun: "When asked why she was late, Sally explained that she had a flat tire." The noun does not need to come first. It just needs to be understood in context.
This is the right answer. The news reports are reporting the "crime" with which the perpetrator was charged. "Mugging" is not a legally defined crime in many (most? all?) jurisdictions.