Governing Bodies
Swiss bank Julius Baer to pay US$80 million to end FIFA laundering probe
Julius Baer Group Ltd will pay almost US$80 million (S$106 million) to resolve a US probe of its role in the payment of tens of millions of dollars in bribes to leaders of Fifa, the governing body for world football.
The United States charged the Swiss private bank with a money-laundering conspiracy and will drop the case in three years as part of a deferred-prosecution agreement, if the bank meets certain conditions. Federal prosecutors and the bank’s general counsel appeared in a video conference on Thursday (May 27) before US District Judge Pamela Chen in Brooklyn, New York.
Julius Baer will pay a fine of US$43.3 million and forfeit US$36.4 million. The bank said in November it had set aside US$79.7 million to resolve the case. It has cooperated with US authorities since 2015 in a corruption investigation involving officials and affiliates of Fifa and associated sports media and marketing firms.
The bank “agreed with sports marketing executives and football officials to launder at least US$36,368,400 in bribe payments through the United States in furtherance of a scheme in which sports marketing companies bribed football officials in exchange for broadcasting rights to football matches,” according to a statement of facts that Julius Baer admitted.
The bank declined to comment on the agreement.
Massive crackdown
The pact is part of a massive US crackdown on corruption in Fifa that led to at least 26 guilty pleas as well as deferred- or non-prosecution agreements involving several sports marketing and athletic apparel corporations.
A former Julius Baer banker, Jorge Arzuaga, was sentenced in November to three years of probation for facilitating the payment of bribes to the presidents of the Argentine Football Federation and the South American Football Confederation. He cooperated with investigators.
While the bank contacted prosecutors shortly after the US made its first Fifa arrests in May 2015, it failed to “come forward with all evidence pertaining to the involvement of senior management,” according to court papers. That conduct involved two senior managers, including one executive board member. Neither manager was named.
Since then, the bank has made a “significant effort to remediate its historically deficient compliance programme,” spending US$112 million on a three-year programme to bolster its anti-money laundering controls, the papers said.
The bank has faced other scandals in recent years.
In 2018, former banker Matthias Krull was sentenced to 10 years in prison for his role in a plot to launder US$1.2 billion stolen from Venezuela’s state-owned oil producer, Petroleos de Venezuela SA.
In 2016, the bank paid US$547 million and signed a deferred-prosecution agreement after admitting it helped thousands of Americans conceal billions of dollars in assets from the US Internal Revenue Service. Two bankers pleaded guilty.
And in March, Julius Baer announced that Swiss regulator Finma was lifting a ban on complex acquisitions it imposed on the bank in February 2020 over its inadequate money-laundering controls.
–BLOOMBERG
FIFA’s independent Ethics Committee has banned former Guyana Football Federation (GFF) General Secretary Ian Alves from all football-related activities for five years after finding he sexually harassed female staff members.
FIFA also fined Alves 20,000 Swiss francs ($22,000) after determining that he had breached provisions of the FIFA Code of Ethics relating to the protection of physical and mental integrity, abuse of position and general duties.
“FIFA has a strict stance against all forms of abuse in football,” the organisation said on Monday.
The decision followed a review of written statements from the victims, documents provided by the GFF, submissions from Alves, and other evidence gathered during the investigation.
Alves stepped down from his position in 2024.
The ban came into force on Monday, when the terms of the decision were notified to Alves, and the full grounds for the ruling will be communicated within 60 days in accordance with the Code of Ethics, FIFA added.
The GFF did not immediately respond to a Reuters request for comment. Alves could not immediately be reached for comment.
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FIFA President Gianni Infantino said on Thursday that he planned to seek re-election for a fourth term in a bid to continue to lead the governing body of world soccer.
Infantino confirmed he would run for the 2027–2031 term in the closing moments of the FIFA Congress in Vancouver, which comes less than two months before the start of the World Cup.
The election will be held on March 18 in Morocco, which is set to co-host the 2030 World Cup.
Infantino said he was “honoured and humbled” to have the chance to run for a fourth term.
The Italian-Swiss took office in 2016, replacing Sepp Blatter, and was re-elected unopposed in 2019 and 2023.
Infantino has pushed for the expansion of FIFA competitions during his tenure, with this year’s World Cup in North America the first to feature 48 teams, while the women’s tournament in 2023 has been expanded to 32 teams.
Infantino’s tenure has also drawn some criticism over issues such as high World Cup ticket prices and the decision to award the inaugural FIFA Peace Prize to U.S. President Donald Trump at the World Cup draw in December.
Earlier this month, the council of South American football’s governing body (CONMEBOL) said in a statement it would unanimously support the 56-year-old if he decided to seek another term.
-Reuters
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The supporters of Vancouver Whitecaps, a professional football (soccer) club in Canada, have staged a protest outside the FIFA Congress on Thursday, voicing fears that the Major League Soccer club could be relocated as uncertainty deepens over its ownership and long-term future.
The club is one of Canada’s most historic football institutions and has long been a central part of Vancouver’s sporting identity.
Around 100 fans gathered as delegates arrived for the annual FIFA meeting in Vancouver, chanting, singing and waving club flags in a show of solidarity. The demonstration comes just days after Vancouver Whitecaps FC revealed difficulties in securing a buyer willing to keep the club in the city.
The Whitecaps disclosed earlier this week that “stadium economics, venue access and revenue limitations” have complicated efforts to sell the club, despite a 16-month search for new ownership.
Season ticket holder Derek Hawksworth said supporters felt compelled to act amid growing fears of relocation.
“I wanted to come down given the threat of the team possibly moving,” he said. “It’s a rich history with the Whitecaps in North America… we want Vancouver to stay and not relocate. The history is here, and we want to continue with that history moving forward.”
The Vancouver Whitecaps are a professional football (soccer) club based in Vancouver, Canada. They currently compete in Major League Soccer (MLS), the top-tier league in the United States and Canada.
Concerns were heightened by reports that cities such as Las Vegas and Phoenix are leading contenders should the club relocate.
Vancouver Mayor Ken Sim has urged intervention, calling on the provincial government — which owns BC Place — to negotiate a “bridge deal” that would allow the team to remain while plans for a new stadium are explored. The club’s current lease at BC Place expires at the end of the year.
Despite the off-field uncertainty, the Whitecaps have been one of the standout teams this MLS season. They currently sit second in the Western Conference with 24 points from nine matches, just three points behind the San Jose Earthquakes.
For supporters, however, performances on the pitch offer little comfort as the future of their club hangs in the balance — a situation they hope global football leaders gathering in Vancouver will not ignore.
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