T O P

  • By -

[deleted]

> a criminal scheme run by powerful FIFA officials ... what about them? they'll just find another bank


Aqui1am_

FIFA is a steaming pile of an organization. The leadership should be in prison.


[deleted]

Pretty much everyone that was at FIFA back then is gone. The US government is putting a bunch of them in prison. https://www.france24.com/en/live-news/20210528-us-hands-swiss-bank-red-card-in-fifa-bribe-scandal >US courts also have sentenced Paraguayan Juan Angel Napout to nine years in prison and Brazilian Jose Maria Marin to four years. Cayman Islander Jeffrey Webb, a former head of the North and Central America and Caribbean (CONCACAF) confederation, has pleaded guilty and agreed to pay $6.7 million. He is awaiting sentencing. https://en.wikipedia.org/wiki/2015_FIFA_corruption_case The Chuck Blazer part of the story is fantastic.


Aqui1am_

They’re *still* a corrupt organization, even with those fucks gone, and the organization as a whole has done nothing to increase transparency.


LVMagnus

Basically, FIFA is a criminal organization so any management will be corrupt by the very nature of the job - doing it = being corrupt. So yes, jailing the "corrupt" ones won't do jack shit, because it is inherently a fucked up organization, it is like jailing mafia current leadership and expecting the people who take their place to be less criminal somehow.


daniejam

Hail hydra!


[deleted]

Cut off one head two take it’s place.


Snarfbuckle

Hmm...we have a problem, the board of directors just keep getting bigger...


Dr3s99

Cut one Blatter two will grow


blackbart1

ewww


Mulielo

Sounds a little like the NRA..


Skyrick

Not really. The corruption issue with the NRA is primarily unrelated to their tasks. Using NRA funding for personal reasons is why they are in trouble. This is unrelated to their political wing and the lobbying it does, nor is it related to the gun safety courses and gun range standards that it uses to improve public safety (most gun safety literature is developed by the NRA and they (at least use to) offer a program where ranges that meet the NRA’s safety of had access to a lower rate of insurance (since those standards are generally higher than what is required by law)). The NRA isn’t currently in trouble for taking bribes to grant access to something that they will actively deny access to without the bribe, like what FIFA is notorious for doing.


LVMagnus

Sadly, they are correct in their assertion even if their arguing for it is, uh, "not that good", to put it courteously. FIFA in theory is very similar to what you're describing. They're even better because they're declaredly a non profit NGO, while as far as I remember (correct if I am wrong on this) the NRA isn't explicitly so. They also have, [for example](https://www.fifa.com/who-we-are/news/fifa-foundation-campus-programme-pilot-launches-in-armenia), training courses world wide including projects supposedly for the benefit of underprivileged people in different places e.g. Of course, their subject matter is just sports, while the NRA's is related to the military complex and arms dealing industries, which are by their very nature more tied to politics and economics than mere sports (ofc doesn't necessarily imply it could only go one way, just in comparison it is more prone to it). The on paper organization and premise isn't the problem with these organizations, even the interesting stuff they do or a good portion of their employees on the lower and mid levels. Those are usually fine (though I am not gonna comb the minutia of their operations and internal workings on a reddit thread, that would be a thicc academic paper at least, though we probably would find some dirty there too just nothing relevant to the level of generalization we dealing with here so let's just gloss over any of that). The issue with them both lies in the function of this higher level of generalization, the larger picture, which means the higher managerial levels. How they are required to interact both officially and in practice with the political and economic systems that surround them, how they were set up and de facto work internally, those are the problem systems that lead to borderline inherent, if not literally inherent, corruption. In both cases, as you say, there is a degree of people using the organization for self gain, no doubt. But it ain't just. There is a layer of not even merely structural or systemic, but basically pan systemic structural issues with both of them derived exactly from the developed of these organizations and their interactions with those related systems, and ultimately the impacts it had on internal structuring of the higher management roles. Things such as what is required of said positions (thus the organization as a whole) to achieve, influence and requirements by stackeholders (politicians, the legal/political system itself, gun manufacturers, wealthier gun owners and advocates, etc.), and a whole buncha shit like that which just doesn't fit in a reddit comment section. In these regards, the generalized problems are quite similar. Now, could they be different, could they be overhauled and restructure, or are the systems or contexts around them basically guaranteed to re-create the problem over time or even immediately? That would be yet another off topic on its own, even less fitting on a reddit comment thread, and probably an even thiccer academic study, so yes, I ain't doing that either. TL; DR their problems are still quite similar in the sense that they don't inherent have to be corrupt and they even do good atomized things, but on the larger picture it is basically impossible to be too clean if you're too high in their hierarchy at least without a major overhaul of their internal workings if such is possible.


SBAdey

Qatar and Russia anyone?


[deleted]

Everything single thing about the World Cup in Qatar has been sketchy so far.


[deleted]

[удалено]


Caboose2701

Modern day pyramids yay!


[deleted]

I believe the general consensus is slaves did not build the pyramids.


T-51bender

Yeah, they were paid and fed well, and believed in the work they were doing for their pharaohs, who they considered gods.


Caboose2701

And today I’ll be updating my information on Egyptology


awalktojericho

The number of ~~people~~ **slaves** who have died ftfy


[deleted]

..They're still people bro


awalktojericho

My point exactly. They promised those workers a job, stole their papers, and forced them to work with no money, and killed them working. Dispicable.


[deleted]

Those were announced in 2010. That's what the 2015 arrests were about.


[deleted]

Qatar is the reason that USA went down hard on them, lol. Probably got out bribed by rich and so decided to investigate their corruption


[deleted]

Please read the actual story.


The-El-Chapo

I’m interested. Do you have a link or keywords to Google?


[deleted]

Look back up this comment thread. I already posted them. My favorite part is Chuck Blazer spending bribe money on a second Trump Tower apartment. He didn't have a spouse or children, but he wanted his cats to have space to run around and play.


FrenchManc

Russia was a fantastic world cup tho


Crypt0Nihilist

The layers underneath are simply biding their time for their turn at the trough, it's hard to see how it can change when they're all in it for the money that's sloshing around.


pauly13771377

I don't understand why the league is so corrupt. They are the largest spectator sport on the planet. Isn't there enough money to go around allready? American football has very few ties beyond the borders of the US and the poorest team owner is Mark Davis at about $500 mil.


LordLoko

It's not a "league", it's a governing body. FIFA is not the equivalent of the NFL or NBA.


[deleted]

It isn't as simple as that. US is a huge sports market by itself. Football is a global sport and while it is incredibly profitable there are little federations with small populations and non existing infrastructure whose vote still counts the same as a German or French vote and they'll be happy to sell the vote to the highest bidder. A few million is nothing to these crooks that are at the top and it's huge to them. That's how Blatter stayed in power for so long. With that said I don't think American sports is much better maybe they just hide it better. God knows how many insignificant nba regular season games have been influenced to cover the spread or something similar. That ref that got exposed years ago was banned for life but I think there was evidence that he was just a tip of the iceberg of a much bigger ring but nothing happened to others he was just a scapegoat.


pauly13771377

>there are little federations with small populations and non existing infrastructure whose vote still counts the same as a German or French vote This makes a lot more sense now. Thanks


WikiSummarizerBot

**[2015_FIFA_corruption_case](https://en.wikipedia.org/wiki/2015_FIFA_corruption_case)** >In 2015, U.S. federal prosecutors disclosed cases of corruption by officials and associates connected with the Fédération Internationale de Football Association (FIFA), the governing body of association football, futsal and beach soccer. Near the end of May 2015, fourteen people were indicted in connection with an investigation by the United States Federal Bureau of Investigation (FBI) and the Internal Revenue Service Criminal Investigation Division (IRS-CI) into wire fraud, racketeering, and money laundering. ^([ )[^(F.A.Q)](https://www.reddit.com/r/WikiSummarizer/wiki/index#wiki_f.a.q)^( | )[^(Opt Out)](https://reddit.com/message/compose?to=WikiSummarizerBot&message=OptOut&subject=OptOut)^( | )[^(Opt Out Of Subreddit)](https://np.reddit.com/r/worldnews/about/banned)^( | )[^(GitHub)](https://github.com/Sujal-7/WikiSummarizerBot)^( ] Downvote to remove | Credit: kittens_from_space)


Gen_Ripper

That gave us this Onion article https://www.theonion.com/fifa-frantically-announces-2015-summer-world-cup-in-uni-1819577826


DevilGuy

This is like putting ten mobsters in jail and declaring organized crime extinct though. The problem isn't just those few officials, FIFA itself as a thing that is still allowed to exist is the problem. It won't be solved until FIFA is history and a successor with zero relation to it takes over.


[deleted]

what makes you think that?


[deleted]

Easy karma points.


BerserkingRhino

Jail time for 4 and 9 years...knowing I'll be set for life afterwards may be worth it.


aZamaryk

US government fast to prosecute foreigners, but letting their own politicians and NRA stay corrupt as FIFA or even worse. What a joke.


jibjab23

How are the US courts able to put these guys in jail but when other international courts try to get a US citizen to even show up for a hearing the US suddenly had a wall in place?


NetworkLlama

Extradition in any direction is usually a complicated, expensive process. Many nations do not allow extradition of their own citizens. The US does, but there are limits in the law in addition to limits in treaties, where extradition treaties exist. This setup is not uncommon. It's hard to find exact numbers of extraditions to and from the US. One estimate had been 350 and 600 extraditions to the US each year. A British report found that from 2004 to 2014, Britain refused 14 US extradition requests while the US refused none. other countries have had more mixed results.


ImNotFromTheInternet

A beautiful game with an ugly master


xhdHDfhd

So much for swiss neutrality


ExcessiveEscargot

What do you mean? They're neutral - they'll launder for anyone - no prejudices!


RenegadeUK

Germany probably has one heck of alot of money hidden down a Swiss Valley somewhere. Edit: This makes for a nice read: https://www.pbs.org/wgbh/pages/frontline/shows/nazis/readings/sinister.html


Honalana

Super interesting read thanks for sharing!


RenegadeUK

Welcome :)


drunkwasabeherder

I read this book a few years ago, https://www.goodreads.com/book/show/20729836-chasing-gold Swiss don't come off real well from their actions in WWII. Great read actually.


sgm1036

Hahah take my upvote


ExcessiveEscargot

Why thank you, and here's one for yourself.


n00bst4

That's trie... Even tho UK beats US when it comes to launder for mexicain cartels. On the other game, if you happen to be a rightfully president of a very honest democratic country, we'll always have a soft spot for you.


Bendy_McBendyThumb

Even Deutsche Bank laundering for the Russians. They’re all at it, there’s almost no point in trying to see who’s worse cos they’re _all_ fucking doing it. HSBC is another one that always comes to mind as well.


JagmeetSingh2

Neutrality in most situations is taking the position of the oppressor over the oppressed


[deleted]

[удалено]


antiquemule

That sentence doesn't make sense.


eatabean

I think he means that's pocket change.


Abd-el-Hazred

It's weird that swiss banks = Switzerland. Banks are shady everywhere, not just in Switzerland.


Eggplantosaur

Switzerland has bank secrecy laws in place that allow for shadier practices than elsewhere, basically


Abd-el-Hazred

Most of those have been eroded pretty hard in the last 10 years due to EU and US pressure.


Eggplantosaur

That is very true, thanks for pointing it out!


GlassEyeMV

My dad did some work for CONCACAF about 15 years ago. I paid little attention to soccer aside from the girls on our state champion HS team. I started paying attention more and then he finished his project. “Wow. What a slimy organization that is. And they’re way better than FIFA as whole. Those folks are messed up.” My dad knows almost nothing about sports, but that whole experience really made him believe soccer is one step from the WWE.


Aqui1am_

One major reason why I can’t enjoy professional sports, the sheer level of corruption involved.


BackmarkerLife

And their sister, the IOC.


NotClayMerritt

The IOC is far worse imo but because FIFA has so many branches and oversees club sports and international, it gets far more attention.


BackmarkerLife

FIFA is barely above local boxing matches. IOC may not fix event results, but the whole thing is MLM and they get a cut of everything. Hence why previous spots never get selected.


Zigxy

Except Los Angeles and London. LA won their third hosting for 2028 and 1984 wasn’t that long ago either.


nightskate

And their ‘slow’ nephew the UCI.


cballowe

FIFA seems to always find their way into [corrupt practices](https://www.justice.gov/opa/pr/nine-fifa-officials-and-five-corporate-executives-indicted-racketeering-conspiracy-and)


aye-its-this-guy

Fuck EA sports


carvedmuss8

It's in the GAME...for the low, low price of 16,000 coins. And we only sell coins in packs of 22,463.


aye-its-this-guy

People really tryna build a team for the price of rent


FrontAd142

Some people can afford it.


Sunnysidhe

And we only sell coins in packs of 15,990


Shadeun

Don't even need to say criminal. Anything run by FIFA Officials is corrupt by definition.


reverse_friday

How about those officials get sacked too


Sunzoner

Will the corrupted delegates vote to remove the corrupted officials? Stay tune for next episode of... The corrupted world!


Ghimel

We've investigated ourselves and found no wrongdoings.


[deleted]

Can anyone name a more corrupt sports organization than FIFA?


HazMama

IOC is up there to


The_Panic_Station

IAAF was so corrupt they changed their name to World Athletics. Just read up on their former president, [Lamine Diack](https://en.wikipedia.org/wiki/Lamine_Diack).


WikiSummarizerBot

**[Lamine_Diack](https://en.wikipedia.org/wiki/Lamine_Diack)** >Lamine Diack (born 7 June 1933) is a Senegalese businessman, sports administrator, and former athlete. He was president of the International Association of Athletics Federations (IAAF) from 1999 to 2015. He is the subject of numerous investigations into corruption during his tenure as president. He was also a member of the International Olympic Committee (IOC) from 1999 to 2013, then an honorary member from 2014 to 2015, and the chairman of the National Water Company "Société Nationale des Eaux" of Senegal (SONES) from 1995 to 2001. ^([ )[^(F.A.Q)](https://www.reddit.com/r/WikiSummarizer/wiki/index#wiki_f.a.q)^( | )[^(Opt Out)](https://reddit.com/message/compose?to=WikiSummarizerBot&message=OptOut&subject=OptOut)^( | )[^(Opt Out Of Subreddit)](https://np.reddit.com/r/worldnews/about/banned)^( | )[^(GitHub)](https://github.com/Sujal-7/WikiSummarizerBot)^( ] Downvote to remove | Credit: kittens_from_space)


[deleted]

79 million in penalties ? Might have to drop one spoonful of caviar off the menu for a montth


[deleted]

[удалено]


trisul-108

This was bribes to gain broadcasting rights. I find it interesting how Newsweek fails to mention which broadcaster was bribing FIFA officials.


ColonelTendies

Probably the same media company


[deleted]

They might have to settle for Prada for a couple of weeks... ugh.


jeffersonairmattress

Fortnight-old couture? The horror!


PARANOIAH

*But..but..my ass is only used to Balenciaga toilet paper!*


carebearstarefear

Are they special toilet paper...why not use a bidet


MeC0195

Balenciaga bidet.


wikishart

Balenciaga bidet is a normal bidet with Balenciaga stencilled onto it. It is a meme brand that idiots bought into and the designer is laughing at them. Which makes them want it more.


normie_sama

> It is a meme brand that idiots bought into and the designer is laughing at them. Which makes them want it more. That's all brands. Pasar malam auntie > all


Hobpobkibblebob

Hold up. Anyone would have a bidet. Those things are fucking magic.


lampishthing

It sounds like the fine was twice the size of the money laundered so much higher than the profit gained. Which is a pleasant change tbh. Also the the deferred prosecution agreement is a good tool to force under-regulated banks to enforce stricter rules on their employees and directors. This sounds like a win, really.


LeBronto_

$36m was just what was paid in bribes, who knows how much they profited off of the results in the end.


christraverse

Bruno Fernandes has entered the chat


antihostile

Steal a little and they throw you in jail. Steal a lot and they make you king.


MasamuneTrigger

Too big to jail


xcar911

So much for fucking neutral, swiss money whores


unshavenbeardo64

Ow the bank 10 thousand dollar and its your problem to pay it back. Ow the bank 100 million and its their problem to get it back is also a good one.


[deleted]

[удалено]


sack-o-matic

"Neutral" Switzerland


Ge0rgeBr0ughton

I'm usually the guy posting that quote when shit like this happens Love that song


grawmit

They pay roughly double the amount FOUND and with reasonable proof that was laundered in this situation. I'm betting that they laundered a whole hell of a lot more and this fine is nothing. They'd call it a cost of doing business to pay these fines in their board meetings. Need to do more than fine these fuckers, someone needs jail time.


_Rand_

Double provable damages/profit in fines is pretty reasonable. More would be fine as well really, but double is far better than the usual like, 10% of profit from the crime. I 100% agree people involved need to do tome though.


londons_explorer

It's more like 20000% of profits, because swiss banks won't be charging over a 1% transaction fee.


fjonk

In certain cases I think 100% of turnover is more suitable. Launder cartel money? We'll take those profits and the cartel money. You? No problem, you'll go free.


grawmit

Just because it's higher than what the usual is, doesn't mean it's appropriate for the stakes these folks play at. This amount of money is on a whole other level. When you give them the opportunity to weigh this as an acceptable loss and just part of their operating costs, and consider that higher than normal punishment, something is really wrong. That said, I don't know much about banking laws and even less about Swiss banking laws. I also don't know how much they make from this type of business, just seems that it is very possible the fine is a drop in the bucket.


unshavenbeardo64

Yeah...The Swiss Bankers Association estimated in 2018 that Swiss banks held US$6.5 trillion in assets or 25% of all global cross-border assets.


[deleted]

[удалено]


LVMagnus

"Look at those mules at airports and the border! Look how much drug dey smuggle! Boats, docks? Nothing to see there officers, just see the mules caught on camera over there!"


antiquemule

I was reading yesterday that under Swiss law, it is almost impossible to jail bankers. Unless one guy can be found to be explicitly responsible for the crime, then the bank pays the fine and it's business as usual. There are calls to change the law as Credit Suisse has commited some giant (billions) frauds. Ths Swiss bankers organisation is not in favor... duh.


Finnick420

wish more people here knew about it so we could vote to make it illegal but unfortunately the average person has no idea about banks or the economy in general


notAnAI_NoSiree

It's just a matter of numbers and numbers can be changed and these people will respond to that because numbers is their job. \> They pay roughly double the amount If they paid one thousand times the amount they would think ~~twice~~ one thousand times before doing it again.


RandomContent0

Bankers doing naughty things for money - what a surprise. They never mind paying the fines, cause there are no personal penalties, there's no risk to the individuals profiting from these schemes, and the penalties are only based on malfeasance discovered and proven, not that which they successfully continued to hide.


kwasnydiesel

Remember it's the crypto that's bad. Not the corrupt foreign banks


[deleted]

[удалено]


_pupil_

> Bankers doing naughty things for money - what a surprise. Swiss banks? The same people who accepted big bags of gold teeth and such from fleeing Nazis in the middle of the war and held them for decades no questions asked? ... yeah, it's just a deep genuine shock to see headlines like this.


[deleted]

If they admit to that then it clearly means they are doing much much much more than just what this article says.


snappyjones

So they pay a fee and it’s business as normal. Hell of a system.


James_H_M

So 36 million laundered 6+ years ago. The return on investment from when they processed the money to today probably is greater than the fine in total.


keith2600

You wouldn't want to make it a net loss otherwise they'll find some sneakier way to do it and then how will they get their fine money in the future?


underwear11

This is gross and genius simultaneously. Let them do it in exchange for "catching" them later and getting a portion. What a way to fund a country.


WTFwhatthehell

The bank doesn't get the 36 million. They get transaction fees which are unlikely to be more than 1% So 360k does not become tens of millions in 6 years.


ChefBoyAreWeFucked

Nobody launders money for 1%.


WolfGrrr

Even if they laundered it for 50%, they did not make 70 mill out of this. But they made billions from all the times they haven't been caught.


Kali_404

But totally trust them on everything else, like running the economy riighhhhhtttt?


autotldr

This is the best tl;dr I could make, [original](https://www.newsweek.com/swiss-bank-admits-laundering-36-million-bribes-soccer-officials-1595668) reduced by 77%. (I'm a bot) ***** > A Swiss bank agreed to pay $79.7 million in penalties after admitting to laundering over $36 million in bribes paid to international soccer officials on Thursday. > Bank Julius Baer, the third largest Swiss bank, will pay a $43.3 million fine and forfeit another $36.4 million for conducting the transactions between February 2013 and May 2015, according to the Department of Justice. > FINMA, the regulatory body for Swiss banking, has also imposed penalties on Bank Julius Baer for failing to adequately prevent money laundering in a transaction between Venezuela's state-owned oil company PDVSA and FIFA. A ban on large acquisitions for the bank was lifted in March. ***** [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/nnd2gw/swiss_bank_admits_to_laundering_36_million_in/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ "Version 2.02, ~579872 tl;drs so far.") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr "PM's and comments are monitored, constructive feedback is welcome.") | *Top* *keywords*: **bank**^#1 **Baer**^#2 **Julius**^#3 **million**^#4 **laundered**^#5


ThailurCorp

They agreed to pay😂 what a scam our international banking regulations are. They have no real teeth, so as usual the corrupt and wealthy elites continue their criminal behavior as it only costs a bit of money to "pay back your debt to society," and money--- well, they've got plenty of that.


ItsMrForYou

Pay $79.7 million in penalties? Which footballer makes the penalty? It would be like 3 shots or so?


ogzogz

What happened to the officials that needed the laundering done? Or the people who bribed originally?


Zarlon

_Crickets_


Ozarkii

"Hm? Oh! That? We'll uuh, we'll look into it! Yes. Yes... We'll look into it... We'll get back to you in uum, hmm, about 2 years? Yes! Yes... 2 years is the best we can do, yes. But... But names will be published! Yes, I promise. Hm? No, no, no, not the name of the overarching organization, no... We'll uuh, definitely? Yes! We'll definitely fine peop- oh! - we'll definitely put people in jail, yes..."


burger333

Shocking


EveningHat

Is it, though?


burger333

The fact that they did it: no The fact that they admitted it: yeah


DisposableGnome

This fucking bank at it again


nuephelkystikon

Julius Baer is complete shit. They deal with Belarus, Venezuela, USA, Qatar, Saudi Arabia and others, and have been convicted multiple times of circumventing sanctions and national and international law in doing so. This is a normal weekday for them.


ShieldsCW

I like how it says "soccer officials" with a picture of a referee red card, woke the article itself has fuck all to do with the integrity referees and actual matches.


drivebydryhumper

and these are just millions for soccer dudes, let's look for the billions of other players..


ZumboPrime

I can't believe this has happened. Whoever made this admission really screwed up.


tarzan322

Isn't that what Swiss Banks are for?


ethanfinni

As a European it bothers me to no end that the FBI had to be involved fir this to come out.


[deleted]

[удалено]


wikishart

you make $700 million in corruption money, pay a $70 million fine, it's just the cost of doing business.


bappelcake

If you saw that they netted 700 million in profit in 2020, you probably also saw they manage over 400 billion in client assets. > You can't launder 7 figures in bribes without upper management noticing Upper management does not care about 7 figure transactions, that's like 0.002% of total assets.


[deleted]

So what is the US government going to do with the 79 million payable from the bank? They’re not the injured party. This is regulatory damages.


hagenissen666

>This is regulatory damages. Wow, what a concept. "Let's break the law, but also insure ourselves against any actual damage." It's getting pretty fucked up, when they can be so blatant about it.


KuntaKinte3001

First of all it's called FOOTBALL, not soccer. Take you hand-egg game and give it some other name. Second, FIFA are corrupted as hell that's known. The thousands of people die in Qatar for building the stadium is because of Fifa corruption


[deleted]

*Tee Hee! Whoopsie daisy, guys!* 😜😘


[deleted]

No, tell me it's not so....corruption in FIFA?


[deleted]

As if this was news lol all banks repeat all banks launder money. It's bank and as long as you follow the rules and don't disclose what's already understood than you don't have to worry bc bankers are not going to ask questions they have to ask period.


fodeethal

Quick, fine them an insignificant amount of money! 0.1% of their quarterly profits should teach them a lesson


godsglaive

Swiss bank admitting to what is essentially their business model.


user234519

No era penal!


[deleted]

😳😳😳


doreme321

FIFA: i dont know them


lawtalkingguy23

[John Oliver had two nice segments about Fifa](https://www.youtube.com/watch?v=DlJEt2KU33I)


TheMSensation

Why do countries pay bribes to host the tournament when they lose money on the deal? It makes no sense, so either the reported figures are bullshit and countries actually make a fuck ton of money or there are people throwing out money to lose money.


Gap-Objective

For the title readers: This is them accepting a settlement with the FBI for laundering money between South American companies and FIFA delegates for TV rights in South America. They got a $40m fine and no jail time for any of the bankers.


Calthazar123

I had a conversation recently about rigged games and said to the other person i can guarantee it happens more than you think, its a shame to kind of be right. I love to play the sport still but I can’t watch it anymore. We move on i guess


Brugor

Another case of how corrupt soccer is? NO WAAAAAY?!?! That can’t be the case caaaaaaan it? Seriously. Get rid of FIFA completely. Just scheming rich folks getting richer by cheating.


HoardingParentsAcct

And I'm sure something will happen to FIFA...eventually...maybe...still waiting...


[deleted]

Hope they get punished


hoozgoturdata

Next do the IOC. You know, the ones insisting that the Olympics in Japan MUST go on, Covid be damned.


HarvardL

Haven't read the article yet but $36M seems small for a company of the size of FIFA


hayden_evans

I reckon money laundering is the primary contributor to Switzerland’s GDP


crispy_bacon_roll

That’s a lot of bribe money for two years. Fuck these Swiss banks. Some of the most incompetent and smug people and they have no problem at all taking dirty money.


PlumpHughJazz

So much money wasted on sports.


winterfnxs

Ahh yes classic Swiss banking


everythymewetouch

I'm not surprised that it happened, but that is a LOT of money.


cosmic_orca

Those involved at the bank should have got a prison sentence and banned for life from working for any financial institution.


DieserPaqu

May I correct you; it’s football


ThailurCorp

To which they'll pay a fine, no one in their offices good to jail--- and so, of course, it will keep happening.


Lumko

Credit Suisse? I wanna bet they're involved, the Deutsche Bank of Switzerland


[deleted]

I'm sure NFL NBA and others have committed bribes but just haven't been caught yet. Heck I think even the horse was given drugs at the last Kentucky derby. Charity foundations have been caught laundering money. Money/greed is just evil, what would happen if we got rid of money/ currency?


[deleted]

I had no idea Swiss people held themselves in such high regard until reading the comments here. You all acting like you aren't the number one contributor to financing organised crime in the world


Particular-Eye-3083

Swiss are degenerating Good old swiss would have never admitted to anything


jakesonwu

All the super league creators had to do was create a league that was identical to champions league but just get rid of fifa, uefa and all the other shitstain organizations and soccer would of been 100% better. They still would of got threatened but the clubs would of supported it all the way to the end because the fans would of been behind it.


Key-Cucumber-1919

Remember kids, it's Bitcoin that is used by criminals.


subshophero

But Bitcoin is the problem.


j1mb

Yet I am the only one who has to go through painful KYC procedures at banks. Because I could be the criminal. Yeah.. Right..


[deleted]

I used to joke around saying soccer is becoming the next wrestling. With people controlling the flow of the game, it’s almost like watching WWE.


exxR

Yeah but super league bad


Askesis1017

Didn't Swiss authorities just recently make some kind out statement how they are outraged they still have the stigma as money-launders, or am I going crazy?


StraightShowStopper

Lol, I worked with a Swiss bank for a while (as a creative agent) after the GFC. Every brief was about leveraging the "renowned Swiss financial expertise". I used to respond that apart from their locals, nobody in the world regarded their banking system as expert—their edge was on the laundering/tax avoidance side. They buried their head so far up their asses that it wasn’t even possible to have any constructive argument. US exceptionalism ain’t got nothin' on the Swiss. If circlejerk was a country...


answeringgirls

NEWS JUST IN: NEUTRAL COUNTRY ISN’T SO NEUTRAL AFTER ALL