US: Argentine firm reaches $112.8 million deal with DoJ in FIFA probe

An Argentine sports media company has agreed to pay about $112.8 million (89 million pounds) as part of a deal resolving US charges stemming a wide-ranging bribery probe involving FIFA, football’s world governing body, according to court documents filed on Tuesday.

The deferred prosecution agreement with Torneos y Competencias, whose former chief executive pleaded guilty last year to engaging in schemes to bribe football officials, was disclosed in court papers filed in federal court in Brooklyn.

Under the deal, Toreos agreed to forfeit $89 million and pay a $23.76 million penalty. Prosecutors charged it with one count of wire fraud conspiracy, which will be dropped if it abides by the deferred prosecution agreement’s terms for four years.

The company is one of 43 people and entities charged as part of a US investigation that upended Zurich-based FIFA and the football world. To date, 20 people and two related companies have pleaded guilty in connection with the probe.

Prosecutors said the defendants engaged in more than $200 million in bribes and kickbacks that were sought and received by football officials for marketing and broadcasting rights to tournaments and matches.

Argentina-based Torneos is 40 percent owned by DirecTV, which AT&T acquired in 2015. In August 2015, DirecTV valued its stake in Torneos as worth $147 million, but said its investment could be adversely impacted by the probe.

Full Content: Reuters

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