Swiss bank Julius Baer agreed to pay fines and penalties of approximately $ 80 million for his role in illegal payments involving FIFA and the South American governing body CONMEBOL
NEW YORK – Swiss bank Julius Baer agreed to pay fines and penalties of approximately $ 80 million for his role in illegal payments involving FIFA and the South American governing body CONMEBOL.
US District Judge Pamela K. According to a plea agreement read into the record by Chen on Thursday, the bank will pay a fine of $ 43.32 million and $ 36,368,400 – which corresponds to the total illegal payment – for a total of $ 79,688,400. Chen said the money is due within 10 days on Thursday after the formal filing of the agreement.
Christoph Hiestand, the general counsel of Julius Bayer’s Zurich-based group, appeared during a telephone hearing held in federal court in Brooklyn, saying that the bank’s board of directors and managing directors sent Julius Bayer a motion to cooperate with U.S. prosecutors Approved. The bank entered into a 42-month deferred prosecution agreement.
The bank said in November that it was setting aside $ 79.7 million for the expected payment in the case. Julius Baer has collaborated with the prosecution since the charges in the football case were first dropped in 2015.
Former Julius Bayer banker, George Arzuga, pleaded guilty in front of the chain on June 15, 2017, to a case of money laundering conspiracy and seized $ 1,046,000 to the US and Swiss governments.
Julius Baer was punished by the Swiss Financial Markets Supervisory Authority (Finma) in February 2020 for failing to combat money laundering, including his links with FIFA officials.
Julius Baer, founded in 1890, admitted that he transported, communicated and transferred funds from February 2013 to May 2015 that it represented the proceeds of illegal activity and designed the transaction to be wholly or partially to hide ownership I went.
Julius Baer waived his right to object to the jurisdiction of the case in Brooklyn federal court and also waived his right to attempt to suppress any evidence. The bank also agreed to enhance its corporate compliance program.
The fine would be $ 45.6 million but was reduced by 5% as part of the plea agreement.
More than 40 football and marketing executives and agencies have been convicted, entered guilty pleas, or indicted. Some await sentence or have not yet been extradited to the US
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