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Citi receives subpoena in FIFA probe

Jaclyn Jaeger | February 29, 2016

Citigroup said last week in a securities filing that it’s under investigation in connection with the bribery, corruption, and money laundering scandal that toppled leadership of the Fédération Internationale de Football Association, the international governing body of professional soccer.

In May 2015, the Department of Justice indicted 14 people on corruption charges. Among the allegations are that Jack Warner, FIFA's former vice president, accepted a $10 million bribe to secure South Africa’s bid to host the 2010 World Cup. The indictment names 26 banks that did business with FIFA—including Bank of America, Barclays, HSBC, Citigroup, and JPMorgan Chase—in its litany of various bribery schemes.

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