Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
D.C.
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Mass.
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
N.Carolina
N.Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
S.Carolina
S.Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
W.Virginia
Wisconsin
Wyoming
Law Firm Website Design Companies : The Good, The Bad, and The Ugly


The Swiss bank Julius Baer agreed to pay nearly $80 million in fines and penalties for its role in illegal payments involving FIFA and the South American governing body CONMEBOL.

The bank will pay a $43.32 million fine plus $36,368,400 in restitution -- matching the total of the illegal payments -- for a total of $79,688,400, according to a plea agreement read into the record Thursday by U.S. District Judge Pamela K. Chen. The money is due within 10 days of the formal filing of the agreement later Thursday, Chen said.

Christoph Hiestand, Julius Baer’s Zurich-based group general counsel, appeared during a telephone hearing held at federal court in Brooklyn and said the bank’s board of directors and managing directors approved a resolution to have Julius Baer cooperate with U.S. prosecutors. The bank entered into a 42-month deferred prosecution agreement.

The bank said in November it was setting aside $79.7 million for an expected payment in the case. Julius Baer has cooperated with the prosecution since charges in the soccer case were first unsealed in 2015.

Jorge Arzuaga, a former Julius Baer banker, pleaded guilty before Chen on June 15, 2017, to one count of money laundering conspiracy and forfeited $1,046,000 to the U.S. and Swiss governments.

Julius Baer also was penalized in February 2020 by the Swiss Financial Market Supervisory Authority (FINMA) for failing a duty to combat money laundering, including in its ties to FIFA officials.

Julius Baer, founded in 1890, admitted it transported, transmitted and transferred funds from February 2013 to May 2015 that it knew represented proceeds of unlawful activity and the transactions were designed in whole or in part to conceal ownership.

Julius Baer waived the right to object to the jurisdiction of the case in Brooklyn federal court and also waived the right to attempt to suppress any evidence. The bank also agreed to enhance its corporate compliance program.

The fine would be have been $45.6 million but was reduced 5% as part of the plea agreement.

More than 40 soccer and marketing officials and agencies have been convicted, entered guilty pleas, or been indicted. Some await sentencing or have yet to be extradited to the U.S.

Legal News | Breaking News | Terms & Conditions | Privacy

ⓒ Breaking Legal News. All Rights Reserved.

The content contained on the web site has been prepared by BLN as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case. Small Law Firm Web Design by Law Promo Website Design
   More Legal News
   Legal Spotlight
   Exclusive Commentaries
   Attorney & Blog - Blog Watch
   Law Firm News  1  2  3  4  5  6 
   Lawyer & Law Firm Links
San Francisco Trademark Lawyer
San Francisco Copyright Lawyer
www.onulawfirm.com
Gurnee IL bankruptcy attorneys
Credit card debt lawyer
bankruptcylawchicago.com
New York Dental Malpractice Attorney
DUI Lawyer
dentalmalpracticenewyork.com
Indiana Medical Malpractice Attorneys
Indianapolis Medical Malpractice
www.williamspiatt.com.com
Surry County Criminal Defense Lawyers
Yadkin County Family Law Attorneys
www.dirussolaw.com
Oregon DUI Law Attorney
Eugene DUI Lawyer. Criminal Defense Law
www.mjmlawoffice.com
New York Adoption Lawyers
New York Foster Care Lawyers
Adoption Pre-Certification
www.lawrsm.com
Chicago, DuPage IL Workers' Compensation Lawyers
Chicago Workplace Injury Attorneys
www.krol-law.com
St. Louis Missouri Criminal Defense Lawyer
St. Charles DUI Attorney
www.lynchlawonline.com
Lorain Elyria Divorce Lawyer
www.loraindivorceattorney.com
Connecticut Special Education Lawyer
www.fortelawgroup.com
   More Legal News  1  2  3  4  5  6
   Legal News Links
  Click The Law
  Daily Bar News
  The Legal Voice
  The Legal Report
  Legal News Post
  Crisis Legal News
  Legal News Journal
  Korean Web Agency
  Law Firm Directory