Regional banks listed in US FIFA probe

No Comments

fifa-scandal.jpgSix regional banks including the JMMB Group owned Intercommercial Bank in Trinidad and Tobago, have been listed in the U.S. indictment against 14 people including present and past FIFA officials for racketeering, wire fraud and money laundering.

The U.S. indictment said Intercommercial Bank, First Citizens and Republic Bank - all based in Trinidad and Tobago - were used to complete wire transfers of large sums of money for FIFA officials.

Trinidad's Express Newspaper reported that two of the transactions in the US indictment including an alleged US$10 million bribe paid to former FIFA Vice President Jack Warner to host the 2010 World Cup passed through banks based in Trinidad and Tobago.

It also said the banks processed another US$1.2 million alleged bribe from Qatari billionaire Mohamed bin Hammam, for Warner's facilitation of the May 2011 CONCACAF meeting where the cash-for-votes scandal occurred.

The other three banks that were cited were First Caribbean International Bank operations in the Bahamas and Barclays and Fidelity banks in the Cayman Islands.

None of the banks has been charged with any crime or regulatory violation.