FIFA recovers $200 million of seized kickback loot
The stolen money now intended to intended to fund global youth and community projects.
Keystone / Ahmed Jallanzo
Football’s world governing body, FIFA, has set up a fund to reclaim $201 million (CHF183 million) that was stolen from the sport by corrupt officials and marketing executives.
The United States Department of Justice (DoJ) has agreed to pay the sum into the newly created World Football Remission Fund.
The fund has been set up by the Swiss-based FIFA Foundation to pump the money back into the sport “especially through youth and community programmes”.
“The terms of the Fund provide for oversight and independent audit measures to ensure remitted funds are distributed appropriately,” the DoJ said in a statementExternal link.
The money is part of a haul seized by the DoJ as it prosecuted a global web of kickback schemes involving the granting of marketing and media rights for major football tournaments.
The ongoing investigation, started in 2015, has had particular focused on South, Central and North America and the Caribbean. The football associations of these regions were also part of the DoJ deal to release the funds.
“I am delighted to see that money which was illegally siphoned out of football is now coming back to be used for its proper purposes, as it should have been in the first place,” said FIFA President Gianni Infantino in a statementExternal link.
“We have been able to fundamentally change FIFA from a toxic organization…to a highly esteemed and trusted global sports governing body.”
Swiss institute hosted informal talks between Russians, Ukrainians and Americans
This content was published on
The Geneva Center for Security Policy (GCSP) has hosted 10 meetings between Russian and Ukrainian interlocutors since the start of the war.
Automated driving on Swiss motorways is theoretically possible from March
This content was published on
It will be theoretically possible to hand over the steering wheel to technology but no such system has been submitted for official approval yet.
Heated atmosphere at Swiss rally against AfD politician Alice Weidel
This content was published on
Around 250 people demonstrated "against the right" and the German AfD politician Alice Weidel on Saturday afternoon in Einsiedeln.
This content was published on
The Ethos Foundation recommends that shareholders vote against all compensation-related items at the Annual General Meeting on March 7.
Top Swiss firms close to reaching gender quota in boards
This content was published on
The proportion of women on the boards of directors of the fifty largest listed companies in Switzerland currently stands at 28%.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Corruption at FIFA: 25 criminal cases and a prosecutor in hot water
This content was published on
Switzerland's attorney general Michael Lauber is facing impeachment proceedings over controversial secret meetings with the FIFA president.
FIFA hands new ban and CHF1 million fine to Valcke and Blatter
This content was published on
FIFA has suspended former bigwigs Sepp Blatter and Jérôme Valcke for almost seven years from the game and fined them CHF1 million ($1.07 million).
‘Farcically shady’ FIFA continues to draw corruption criticism
This content was published on
Football bosses and the media voice their concern at the twisted saga unfolding at FIFA over the 2018 and 2022 World Cup tournaments.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.