Swiss bank Julius Baer entered a deferred prosecution agreement (DPA) and will pay $80 million for its role in a money laundering conspiracy linked to world soccer federation FIFA, the Department of Justice announced Thursday.
Julius Baer disclosed in November it had reserved the money for the penalty and expected to enter a DPA. In Thursday’s action, filed in federal court in the Eastern District of New York, the bank admitted to conspiring with sports marketing executives to launder more than $36 million in bribes through the United States to FIFA soccer officials and other soccer federations in exchange for broadcasting rights to soccer matches.
