Swiss Bank Paid 80 Million Dollars in FIFA Money Laundering Case

The US Department of Justice charged Julius Baer with money-laundering conspiracy as part of a massive crackdown on FIFA corruption. The bank admitted that it agreed with sports marketing executives and soccer officials to launder at least $36,368,400 in bribe payments through the United States in furtherance of schemes where marketing companies bribed soccer officials in exchange for broadcasting rights. Julius Baer agreed to pay a $43.3 million fine and forfeit $36.4 million under a deferred-prosecution agreement. The case was part of a broader US investigation that led to at least 26 guilty pleas and agreements involving several sports marketing corporations. Bank Hapoalim of Israel had previously entered a similar agreement, paying more than $30 million for helping launder over $20 million in bribes to FIFA officials between 2010 and 2015.