May 27, 2021 Bank Julius Baer & Co. Ltd. (“BJB” or “the Bank”), a Swiss bank with international operations, admitted today in federal court in Brooklyn that it conspired to launder over $36 million in bribes through the United States to soccer officials with the Fédération Internationale de Football Association (FIFA) and other soccer federations. These bribes were in furtherance of a scheme in which sports marketing companies bribed soccer officials in exchange for broadcasting rights to soccer matches. The proceeding was held before United States District Judge Pamela K. Chen.
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Feds Tie Bow On FIFA Bribery DPA After Model Compliance
Law360 (December 14, 2020, 4:19 PM EST) An Argentine sports marketing company on Monday wrapped up a four-year deferred prosecution agreement in the FIFA corruption scandal, winning praise from New York federal prosecutors for its model compliance behavior after admitting it sought to pay bribes to secure World Cup broadcasting rights.
Under the December 2016 deal with the U.S. Department of Justice, Torneos y Competencias SA agreed to pay $113 million and make extensive internal control improvements as it admitted its role in a 15-year scheme to pay tens of millions of dollars in bribes and kickbacks to a high-ranking FIFA official in return for the right to broadcast future World Cups.