Toledo Legal News - News Bank Julius Baer agrees to pay more than $79 million for laundering money in FIFA scandal
Bank Julius Baer & Co. Ltd. (BJB or the Bank), a Swiss bank with international operations, has admitted recently in federal court in Brooklyn that it conspired to launder over $36 million in bribes through the United States to soccer officials with the Fédération Internationale de Football Association (FIFA) and other soccer federations, in furtherance of a scheme in which sports marketing companies bribed soccer officials in exchange for broadcasting rights to soccer matches. The proceeding was held before U.S. District Judge Pamela K. Chen.
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