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
Scolari Gets a Job    
Luiz Felipe Scolari, who resigned as Brazil coach after its disastrous 2014 World Cup campaign, has ...
World Cup Runner-up Coach Steps Down    
Alejandro Sabella, who guided Argentina to the World Cup final in Brazil, has decided to quit ...
Ronaldinho on the Move    
Former World Player of the Year Ronaldinho has left Atletico Mineiro. The 34-year-old former Barcelona, AC ...
Beer Approved in the Big House    
Normally, alcohol sale and consumption is strictly forbidden inside the University of Michigan's stadium, but beer ...
Sturridge Wishes Suarez Well    
Daniel Sturridge says he'll need some help from his teammates if the departure of the Uruguayan ...
Liverpool Signs Belgian Teen Star Striker    
Liverpool has signed of 19-year-old Belgium striker Divock Origi, whose goal against Russia sent the Red ...
Tevez's Kidnapped Father Released    
Juan Alberto Cabral, the father of Juventus' Argentine striker Carlos Tevez, was kidnapped and released eight ...
Atletico Madrid Signs Young French Star    
Spanish La Liga champion Atletico Madrid has acquired 23-year-old French World Cup winger Antoine Griezmann from ...
Cuauhtemoc Blanco Makes Comeback at 41    
Former Mexico striker Cuauhtemoc Blanco has returned to the top flight of Mexican soccer at the ...
Jack Wilshere Regrets Having a Smoke    
What happens in Vegas doesn't always stay in Vegas. Arsenal midfielder Jack Wilshere was caught on ...
>> Section 2 Around the Net Archives