Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Argentine sports media company to pay $112M in FIFA probe

Jaclyn Jaeger | December 14, 2016

Torneos y Competencias, an Argentine sports marketing company, agreed to pay over $112.8 million in forfeiture and criminal penalties to resolve U.S. charges relating to wire fraud conspiracy in connection with the FIFA corruption scandal.

As part of its deferred prosecution agreement (DPA) with the government, Torneos further agreed to implement enhanced internal controls and a rigorous corporate compliance program and to cooperate fully with the government’s ongoing investigation. The DPA was disclosed in court papers filed Dec. 13 by the U.S. Attorney’s Office for the Eastern District of New York in Brooklyn federal court in the case U.S. v. Torneos y Competencias.

According to court documents, Torneos engaged in a 15-year scheme by conspiring with others to systemically paying tens of millions of dollars in bribes and...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.