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Swiss Bank Admits to Laundering over $36 Million in FIFA Bribes

June 3, 2021 Swiss Bank Admits to Laundering over $36 Million in FIFA Bribes Bank Julius Baer has agreed to pay nearly $80 million in penalties for its role in soccer bribery scheme. Switzerland-based Bank Julius Baer has admitted to conspiring to launder more than $36 million in bribes through the US to FIFA soccer officials. The 131-year old bank signed a three-year deferred prosecution agreement with the US government in which it acknowledged its involvement in the money laundering conspiracy, which the US Justice Department says fueled an international soccer bribery scheme. The bank has agreed to pay close to $80 million in penalties, which includes a fine of more than $43.3 million and forfeiture of nearly $36.4 million.

Bank Julius Baer admits laundering over $36 million in bribes in FIFA case

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.

U.S. Department of Justice (via Public) / Bank Julius Baer Agrees to Pay More than $79 Million for Laundering Money in FIFA Scandal

U.S. Department of Justice (via Public) / Bank Julius Baer Agrees to Pay More than $79 Million for Laundering Money in FIFA Scandal
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For some Oakland tenants, San Francisco is more affordable now

SAN FRANCISCO    Even on a foggy San Francisco morning, the view from Scott Simmons’ 25th-floor apartment stretches from downtown to Golden Gate Park. The home of the 42-year-old tech worker is also spacious for a one-bedroom, featuring hardwood floors, new appliances and granite countertops. A year ago, when he was sharing a two-bedroom place with his brother, Simmons couldn’t have imagined living in an apartment like this one. But last fall, when Simmons heard about big rent declines during the COVID-19 pandemic, he discovered he could get way more for his money in the heart of San Francisco than in the neighborhood where he was doubling up in Oakland.

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