Motorhome Facts Forum banner

FIFA money laundering?

587 views 4 replies 3 participants last post by  Camdoon 
#1 ·
Can anyone explain what the alleged source is of the money FIFA is said to have been laundering please?

The corruption allegations are quite straight forward but I've tried researching the topic and can't find anything to explain the money laundering allegations.

Thanks, Alan.
 
#2 ·
  • Like
Reactions: erneboy
#3 · (Edited)
Ta Terry.

I hadn't heard the term used to describe moving money around to evade tax before. Though I'm still a bit in the dark as presumably they could never put it into any bank account in their home countries without being able to account for it's origins. Possibly it could be used to pay cash for things but if they were legitimate purchases that would attract attention too. Unless I've misunderstood the only real function for such money would be to pay bribes to stupid people or those who live in very lax jurisdictions.

They may feel good about having large sums squirrelled away but I'd need a bit of convincing that most of them could ever use it openly.

I always thought that laundering was finding a way to account for illegitimate income and convert it from being practically unusable into funds which had apparently been obtained by some legal means. My understanding was that having to pay some of that money in taxes might be the price they paid for having it laundered. Dirty money gives them £1 in their pocket which they can't use and after laundering it they have £ .50 or £ .75 that they can use?

I don't see that FIFA have the means to launder. Perhaps they sell non existent tickets or merchandise. I'd like to know more about it, Alan.
 
#4 ·
Alan,

Agree with your comments and think the investigators and headline writers have tagged FIFA in a "guilt by association rule"' proving that will be something different.

It's also not unknown for some banks and their bankers to be implicated in less than legal activities, time will tell.

And of course we move in the wrong circles to be aware all the dodges and loop holes in the world of high finance.

Terry
 
  • Like
Reactions: erneboy
#5 ·
The Americans are using their normal tactics in that they have managed to turn one defendant to state's evidence. They will then plea bargain with the other culprits who cough up some money and spend 5yr=2yr in gaol or go to court and run the risk of losing more money and 20yr= 15yr in gaol. It is usually more effective than our SFO's attempts at justice.
 
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top