Fifa To Receive Over $201 Million In Compensation News

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Fifa To Receive Over $201 Million In Compensation

By Daily sports on August 25, 2021

Fifa, world football's governing body, will receive $201 million in compensation for losses sustained in global football corruption schemes, the United States Department of Justice (DOJ), said on Tuesday.

The money was seized from the bank accounts of former officials who were involved in the schemes and then prosecuted following a probe into years of corruption within world football.

Since the DOJ unveiled the corruption probe in 2015, more than 50 defendants have been criminally charged. Twenty-seven people and four corporate entities have pleaded guilty, and two people were convicted at trial.

“Today’s announcement confirms that money stolen by corrupt soccer officials and sports marketing executives through fraud and greed will be returned to where it belongs and used to benefit the sport,” said Acting US Attorney Jacquelyn Kasulis for the Eastern District of New York in a statement.

“From the start, this investigation and prosecution have been focused on bringing wrongdoers to justice and restoring ill-gotten gains to those who work for the benefit of the beautiful game.”

The DOJ said $32.3 million in forfeited funds has been approved for an initial distribution to Fifa, Concacaf, the confederation responsible for soccer in North and Central America, Conmebol, which represents soccer in South America, and various constituent national soccer federations.

The funds will go into a new World Football Remission Fund to help finance football-related projects across the globe.

“I am delighted to see that money which was illegally siphoned out of football is now coming back to be used for its proper purposes, as it should have been in the first place,” said Fifa president Gianni Infantino in a statement.

“I would like to thank the US authorities for the trust placed in Fifa, and we will make sure that these funds are used properly and bring tangible benefits for people who really need it.” (AFP)

•PHOTO: FIFA President, Gianni Infantino

Source Daily sports

Posted August 25, 2021