Menu
International Football

FIFA: Swiss Investigating 53 Cases Of Possible Money Laundering At FIFA

Swiss investigators "are looking into 53 possible cases of money laundering and 104 incidents of suspicious activity in Swiss bank accounts as part of their investigation into the awarding of the 2018 and 2022 World Cups," according to Owen Gibson of the London GUARDIAN. Swiss Attorney General Michael Lauber, giving an update into the Swiss investigation that is running in parallel to an FBI inquiry that has already resulted in 14 execs being charged and plunged FIFA into crisis, said that investigators were examining "nine terabytes" of data from FIFA’s Zurich HQ and Swiss banks. Lauber said, "I am well aware of the enormous public interest in our investigation. Equally enormous is the public interest in an independent criminal procedure. Our investigation is of great complexity and quite substantial." He warned there would be interviews of "all relevant people" (GUARDIAN, 6/17). In London, Malcolm Moore reported it "is not clear whether the money-laundering reports were historical or recently made by Swiss banks." Last year, Switzerland’s money laundering reporting office registered suspicious assets of nearly 3B Swiss francs ($3.24B) "after receiving 1,411 reports of suspicious activity from banks." Lauber said that he had the power to move the investigation beyond FIFA’s own internal report and was not afraid of any "collateral damage" to either Russia or Qatar. Lauber: "I have coercive measures and I am independent." He said the investigation "could go anywhere." Lauber "cautioned it would take considerable time to piece together the evidence collected so far." Lauber: "Football will need to be patient" (FINANCIAL TIMES, 6/17). The BBC reported FIFA Chief Ethics Investigator Carl Borbely said on Wednesday that the organization "was also looking into alleged breaches by officials relating to bidding for the 2018 and 2022 tournaments." Borbely said in a statement, "Should new evidence come to light, the investigatory chamber will widen the group of suspects." He added FIFA investigators were prepared to increase staff numbers "at any time if needed" (BBC, 6/17). REUTERS' Schaps & Hosenball wrote Lauber said that "his team had obtained evidence on 104 bank-client relationships, each of which represented several accounts." His investigation "was looking closely at material generated" by U.S. investigator Michael Garcia (REUTERS, 6/17). The AP's Graham Dunbar wrote the American case alleged that senior FIFA voters received $10M in bribes "to support South Africa's successful bid for the 2010 World Cup." FIFA Secretary General Jérôme Valcke "has been linked to transferring the money from a FIFA account on behalf of South African officials." Lauber "would not be drawn on whether the South African case was also within the scope of his investigation." Lauber said, "This is a dynamic process. It could really go everywhere and that is why I don't want to tell you which direction I put my focus" (AP, 6/17).

LOSS OF EVIDENCE: CNN's Lauren Smith-Spark wrote Garcia said that the secrecy surrounding the investigation "is in part to prevent the loss of evidence," either through records going missing or people talking to each other before they are formally interviewed (CNN, 6/17). BLOOMBERG's Miller, Zega & Broom wrote the Swiss probe "is being led by the head of its white-collar crime divisions and included forensic computing experts." Lauber stressed his investigation is distinct from U.S. efforts and that documents from the Swiss investigation will "not be shared automatically" with U.S. authorities but rather be subject to the rules of mutual legal assistance (BLOOMBERG, 6/17). REUTERS' Joshua Franklin wrote Swiss bank Julius Baer said on Wednesday that "it has opened an internal investigation in connection with FIFA amid a corruption scandal." Julius Baer, Switzerland's third-largest listed bank, "was one of a number of banks mentioned in the U.S. Department of Justice's May charge sheet against high-ranking individuals in FIFA." A Julius Baer spokesperson said, "We have launched an internal investigation. We are fully cooperating with the authorities" (REUTERS, 6/17). REUTERS' Brad Haynes wrote a Brazilian broadcast exec accused of sending bribes to senior football officials "has returned to Brazil, where he is preparing to fight extradition" to the U.S. on racketeering and wire fraud charges. José Margulies, 75, a naturalized Brazilian citizen, "was one of 14 defendants indicted by U.S. prosecutors in charges unsealed on May 27, rocking football's global governing body FIFA and the regional confederations." Margulies and two Argentine sports marketing execs "are the only three defendants indicted" in the U.S. who have not been arrested (REUTERS, 6/17). REUTERS' Katharina Bart wrote Borbely said on Wednesday that "he is conducting several proceedings against unnamed football officials based on initial findings from an investigation into the bidding for the 2018 and 2022 World Cup." Borbely said in a statement, "The independent Investigatory Chamber of the FIFA Ethics Committee is carrying out several proceedings into football officials on suspicion of breach of the FIFA Code of Ethics based on the findings of the investigation into the decision for the 2018 and 2022 World Cups" (REUTERS, 6/17).

ON THE AIR: Xavi, who now plays in Qatar, recently commented Qatar has conditions to be a great host for the World Cup, but ESPN FC’s Craig Burley said he is just “towing the party line.” ESPN FC’s Julie Foudy said, “Why would you do that? Why would you sellout like that, given his career, his legacy at Barcelona. He doesn't need the money.” But ESPN FC’s Kate Markgraf said “he must, otherwise why would you ever do that?” Foudy said it’s “not worth it (because) of all the negativity you associate yourself with now: The bribes, the deaths of the workers building these stadiums.” Burley: “He’s sold himself.” Foudy added, “It’s disappointing to me … (and) no amount of money, in my opinion, is worth that” (“ESPN FC,” ESPN2, 6/16).

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2015/06/18/International-Football/FIFA-money-laundering.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Global/Issues/2015/06/18/International-Football/FIFA-money-laundering.aspx

CLOSE