Join Now | 
HomeAboutContact UsPrivacy & SecurityAdvertise
Soccer America DailySpecial EditionAround The NetSoccer Business InsiderCollege Soccer ReporterYouth Soccer ReporterSoccer on TVSoccer America Classifieds
Paul Gardner: SoccerTalkSoccer America ConfidentialYouth Soccer InsiderWorld Cup Watch
RSS FeedsArchivesManage SubscriptionsSubscribe
Order Current IssueSubscribeManage My SubscriptionRenew My SubscriptionGift Subscription
My AccountJoin Now
Tournament CalendarCamps & AcademiesSoccer GlossaryClassifieds
Report Says FIFA Official Took Bribes
The Guardian, September 26th, 2006 3:36PM

MOST READ

MOST COMMENTED

It seems like scandal revelation is becoming a daily occurrence at FIFA-affiliated soccer organizations across the globe. The biggest scandal of the day involves South American Confederation (Conmebol) President Nicolas Leoz, who has been accused of bribery in connection with the collapse of ISMM in 2001, FIFA's former marketing partner. The collapse of the independent marketing agency, which handled FIFA's television distribution rights for the 2002 and 2006 World Cups, left a major hole in FIFA's finances. A legal document obtained by the Guardian highlights payments made to a Liechtenstein bank account between 1999 and 2001 in the name of Sunbow SA, an entity founded in 1997 in the British Virgin Islands. The document shows that Sunbow was 100 percent held by the Nunca foundation, which it says, "can be characterized as a financial/commercial unit of ISMM AG." Some $12 million was allocated as "payments for the acquisition of rights," but the legal document alleges that that sum was used as a bribe for third parties involved in ISMM. Apparently, Swiss investigators have former ISMM executives willing to testify that the payments made to President Leoz were in fact bribes. Among the charges that could be brought against Leoz: fraud, fraudulent bankruptcy, and damage to creditors' interests by reduction of assets. The investigation is now being handed over to local authorities. Chirstoph Malms, one of several former ISMM executives under investigation, said the payment of "inducements to reputable personalities in sport" was a common, widespread practice by agencies such as ISMM and ISL. Read the original story...


No comments yet.

Sign in to leave a comment. Don't have an account? Join Now




AUTHORS

ARCHIVES
FOLLOW SOCCERAMERICA

Recent Section 2 Around the Net
Orlando City Signs Shea     
New MLS club Orlando City on Friday announced the signing of U.S. national team midfielder Brek ...
Report: Juve Eyes January Move for Falcao     
According to Italian soccer site Calciomercato, Manchester United may consider getting second-choice striker Radamel Falcao's huge ...
Reus Fined $665K for Driving without a License    
Borussia Dortmund forward Marco Reus has been handed one of the biggest driving fines in German ...
Balotelli Receives One-Game Ban, Fine for Instagram Post    
Mario Balotelli received a one game ban and a fine of 25,000 pounds after being found ...
Robbie Rogers: FIFA 'Insane' to Host World Cup in Russia, Qatar    
LA Galaxy left back Robbie Rogers has spoken out about FIFA's decision to stage the next ...
FIFA to Publish World Cup Corruption Report    
FIFA's executive committee on Friday agreed unanimously to publish Michael Garcia's report into the bidding process ...
FIFA: Qatar Needs Labor Reform to Keep 2022 World Cup    
FIFA executive committee member Theo Zwanziger on Tuesday indicated that 2022 World Cup host Qatar must ...
CWC: Auckland City the 'Winner,' but San Lorenzo Progresses     
Real Madrid's will face San Lorenzo of Argentina in Saturday's Club World Cup final after the ...
Di Maria Beats Messi, Aguero to Argentina's Player of the Year    
Manchester United winger Angel Di Maria has beaten Lionel Messi and Sergio Aguero to Argentina's player ...
League Cup: Rodgers Defends Sterling as Reds March On     
Following Liverpool's 3-1 League Cup quarterfinal win at Bournemouth, Coach Brendan Rodgers defended two-goal hero Raheem ...
>> Section 2 Around the Net Archives