Tag Archives: Corruption in sports

Verdict anticipated in trial of former IAAF head Lamine Diack

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A Paris courtroom will ship its verdict within the corruption trial of former worldwide monitor and subject federation president Lamine Diack

September 16, 2020, 7:30 AM

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PARIS — A Paris courtroom will ship its verdict Wednesday within the corruption trial of Lamine Diack, a former president of the worldwide monitor and subject federation who oversaw the glory years of Usain Bolt and, in line with prosecutors, took tens of millions of {dollars} for himself, alongside along with his son.

At Diack’s trial in June, prosecutors requested a four-year jail time period and a high quality of 500,000 euros ($595,000). The 87-year-old former IAAF president was tried on corruption, cash laundering and breach of belief prices.

The decision can even cowl others who confronted prices on the six-day listening to, together with his son, Papa Massata Diack. The previous IAAF advertising and marketing advisor lives in Senegal and was tried in his absence, additionally on corruption, cash laundering and breach of belief prices.

Forward of the decision, Papa Massata Diack this week referred to as the fees “the largest lie within the historical past of world sport.” He mentioned he earned $10 million from his IAAF consultancy work however all legally. He mentioned he skipped the trial as a result of “to undergo French justice is to place myself on the disposal of my enemies.” Senegal refused to extradite him.

The trial in June accused Diack of turning monitor’s governing physique right into a hotbed of malfeasance. Diack led the federation from 1999-2015, a time that included the thrilling period of Bolt.

Prosecutors mentioned the Diacks siphoned off income for themselves and lined financial institution accounts with hush-money allegedly extorted from athletes who coughed up six-figure sums to keep away from being sanctioned for doping. The IAAF’s status as a frontrunner in preventing doping was trashed by the crooked system, dubbed “full safety,” of athletes paying to maintain competing.

With the 2012 London Olympics looming, Diack feared that punishing a big group of athletes collectively for doping may damage negotiations with a Russian sponsor, the courtroom was informed. Diack acknowledged he intervened to quietly decelerate the sanctioning course of, however denied data of payoffs. Prosecutors mentioned the Diacks squeezed athletes for 3.45 million euros ($four million).

Lamine Diack’s place and longevity made him an necessary determine in Olympic sports activities. He jetted around the globe and rubbed shoulders with VIPs. His affect additionally opened doorways for his son.

Papa Massata Diack had costly tastes: Investigators discovered that he purchased watches and different luxurious items price 1.7 million euros ($2 million) from a retailer off the Champs-Elysees in Paris. Prosecutors have sought a five-year jail sentence for the youthful Diack.

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Extra AP sports activities: https://apnews.com/apf-sports and https://twitter.com/AP—Sports activities



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Swiss bank penalized over alleged FIFA, Venezuela corruption

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Switzerland’s financial market authority has penalized Julius Baer bank for violating its obligations to combat money laundering over a nearly nine-year span

By

JAMEY KEATEN Associated Press

February 20, 2020, 7:58 AM

3 min read

GENEVA —
Switzerland’s financial market authority has penalized Julius Baer bank for violating its obligations to fight money laundering over a nearly nine-year span.

The sanctions are related to alleged corruption linked to Venezuela’s state-owned oil company and global soccer body FIFA.

The authority, known as FINMA, cited Julius Baer for a “serious infringement of financial market law” and barred it from carrying out “large and complex acquisitions until it once again fully complies with the law.”

The bank was also ordered to revamp its hiring and management of client advisers, and adjust its remuneration and disciplinary procedures.

“FINMA has instructed Julius Baer to undertake effective measures to comply with its legal obligations in combating money laundering and rapidly finalise the measures it has already started putting in place,” the authority wrote in announcing the closure of the probe of the bank. “The Board of Directors must also give greater attention to its AML (anti-money laundering) responsibilities.”

The Zurich-based bank, which had 426 million Swiss francs (dollars) of assets under management at the end of 2019, said it “takes note” of the decision. The bank said it cooperated “extensively” with the authority, and that “the identified deficiencies have been addressed.”

The authority’s investigators unearthed “systematic failings” in the application of Swiss anti-money laundering law, turning up irregularities in “almost all of the 70 business relationships” that were selected due to their risk. The “vast majority” of over 150 transactions examined also showed irregularities, FINMA said.

Julius Baer didn’t do enough to determine clients’ identities, provide information about the source of their wealth, or monitor transactions properly. One adviser handling Venezuelan clients in 2016 and 2017 reaped millions in bonuses and other payouts even though the bank had spotted possible wrongdoing in connection with a case involving state oil giant PDVSA.

“The bank’s remuneration system focused almost exclusively on financial targets and paid scant regard to compliance and risk management goals,” FINMA said.

“As an example, a CHF 70 million (about $70 million) transaction was carried out in respect of a large Venezuelan client in 2014 without the required investigations, even though the bank had learnt in the same year that the client was facing accusations of corruption,” it added.

FINMA said it was appointing an independent auditor to monitor internal reforms.

“Until it is once again fully compliant with the law, the bank is prohibited from conducting transactions such as major acquisitions that lead to a significant increase in operating risks (including but not limited to money laundering risk) or in its organisational complexity,” it said.

The authority has been involved in crackdowns on a number of corruption and money-laundering cases in recent years, also including Brazilian oil giant Petrobras and Malaysian sovereign wealth fund 1MDB. It did not offer details about alleged corruption or money laundering involving Julius Baer at FIFA, the Zurich-based world soccer body.

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Qatar wins, regional rivals lose in Asian soccer elections

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On a big day for Qatar at the Asian soccer elections, the 2022 World Cup host regained a seat on FIFA’s ruling committee and saw defeats for candidates from its regional rivals which are boycotting Doha and want the tournament shared with other Middle East countries.

There will be no Saudi Arabian or United Arab Emirates delegate on the Asian Football Confederation’s executive committee elected by 47 member federations Saturday.

Qatari candidate Saoud Al Mohannadi retained his AFC vice-presidency representing west Asia for four more years, and gained a seat on the FIFA Council. It brings Qatar closer to FIFA decision-making for the first time since 2011, when Mohamed bin Hammam was suspended — and later banned for life — for financial wrongdoing months after the gas-rich emirate won its World Cup hosting rights.

Saturday’s results continue Qatar’s winning run in 2019, after its national team was the surprise winner of the Asian Cup in February, beating Saudi Arabia and host nation UAE before lifting the trophy in Abu Dhabi.

Saudi Arabia and UAE have led a diplomatic and logistical boycott of Qatar for almost two years. The political standoff has included exerting pressure on Qatar to share some World Cup games, likely with Kuwait and Oman, in an expanded 48-team tournament.

FIFA President Gianni Infantino told AFC members Saturday that the world soccer body and Qatar are still analyzing the prospect of adding another 16 teams.

“It will be a nice achievement if the first World Cup with 48 teams is played in Asia,” said Infantino, who has argued that extra teams will accelerate soccer development worldwide. He will preside over a June 3 FIFA Council meeting and June 5 congress of 211 member federations in Paris to decide.

FIFA has consistently said Qatar must agree to any tournament expansion, and Al Mohannadi can represent his country’s expected opposition in the council discussions.

The main business in Kuala Lumpur was for the AFC to re-elect its president Sheikh Salman bin Ibrahim Al Khalifa of Bahrain — in his absence — for four more years unopposed after Al Mohannadi and a candidate from the UAE withdrew last month.

Sheikh Salman, who is also the senior vice-president of FIFA, could not attend after the death of his mother this week. Infantino led delegates in observing a few minutes of silence to mourn and show that “we are with him.”

Speaking on behalf of the Bahraini royal, newly-elected FIFA Council member Praful Patel said: “I am sure that with your continued support and solidarity, we can all take Asian to even greater heights.”

Patel, a former aviation minister in India’s government, won one of the six seats on FIFA’s ruling council elected Saturday. Other winners were Chinese government official Du Zhaocai, Kohzo Tashima of Japan, and, for the women’s seat, Mahfuza Akhter Kiron of Bangladesh.

An ally of Qatar, Mariano Araneta of the Philippines, retained his seat while South Korea soccer leader Chung Mong-Gyu, who sided with the Saudis in recent Asian soccer politics, lost his.

On the eve of the election, Chung — whose family owns World Cup sponsor Hyundai — formally complained to the AFC’s election oversight panel about Qatar’s campaign tactics, including giving Araneta use of a private jet to visit some voters’ countries.

Sheikh Salman was elected to succeed Bin Hammam in 2013, and is the longest-serving president of any major soccer body after years of scandals and international investigations of corruption linked to international soccer.

A sprawling American investigation of bribery helped remove a key Asian soccer power broker, Sheikh Ahmad Al Fahad Al Sabah, from his FIFA position in 2017.

Still, the Kuwaiti sheikh — who has stepped aside from his influential IOC positions pending a separate criminal trial in Switzerland — was in Kuala Lumpur this week on the sidelines of the AFC elections.

Though Sheikh Salman was supported into office by Sheikh Ahmad six years ago, he cemented his position by expanding the Asian Cup to 24 teams and securing the AFC’s finances while giving more money back to members. Last year, the AFC signed an 8-year, multi-billion dollar commercial rights deal with China-backed DDMC Fortis.

Infantino on Saturday said Sheikh Salman’s re-election will help the region move forward in stability.

An uncontested election was “important to show a united family in Asia,” said the FIFA leader, who edged Sheikh Salman to win his presidency three years ago, and has no opponent for re-election in June in Paris.

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Dunbar reported from Geneva

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More AP soccer: https://apnews.com/apf-Soccer and https://twitter.com/AP—Sports



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