FIFA Scandal: Argentine Firm Agrees To $112.8 Mn Settlement

FIFA scandal: Argentine firm agrees to $112.8 mn settlement

NEW YORK, , (Pakistan Point News - APP - 14th Dec, 2016 ) - Argentine sports marketing company Torneos y Competencias S.A. agreed Tuesday to pay $112.8 million to settle charges in the United States stemming from a massive FIFA corruption scandal, authorities said. Torneos "admitted to its role in the 15-year scheme, including its role in paying tens of millions of Dollars in bribes and kickbacks to a high-ranking FIFA official to secure his support" for broadcast rights to the 2018, 2022, 2026 and 2030 editions of the World Cup, the US Attorney's Office for the Eastern District of New York said in a statement.

Under the arrangement, the Argentine company averts prosecution if it avoids charges in the next four years, pays fines and returns tainted funds. "Today's announcement marks another important step in our continuing effort to root out corruption in international soccer and sends a clear message that corporate entities that rely on the US financial system to enrich themselves through bribery will be held to account," said US Attorney Robert Capers.