Swiss Julius Baer Holding AG headquarters in Zurich, Switzerland. Photo: Alessandro Della Bella/AP Swiss Bank Agrees to Pay $80 Million for Involvement in FIFA Money Laundering Scheme
A Swiss bank laundered more than $35 million in bribe payments through the United States as part of "a scheme in which sports marketing companies bribed soccer officials in exchange for broadcasting rights to soccer matches," according to court documents in the case in Brooklyn federal court.
May 27, 2021 at 06:24 PM
2 minute read
In an international soccer corruption case, a Swiss bank will pay nearly $80 million in penalties after conspiring to launder money in collaboration with Fédération Internationale de Football Association (FIFA) officials, the U.S. Attorney's Office for the Eastern District of New York announced Thursday.
Quinn Emanuel Urquhart & Sullivan partner Juan Morillo represents Bank Julius Baer & Co. Ltd., which acknowledged as part of a deferred prosecution agreement that it conspired between February 2013 and May 2015 to launder more than $35 million in bribe payments through the United States as part of "a scheme in which sports marketing companies bribed soccer officials in exchange for broadcasting rights to soccer matches," according to court documents.
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