Swiss-based Julius Baer Bank To Pay $80 Million In FIFA Corruption Case

Switzerland-based bank Julius Baer and the U.S. Department of Justice have made a Deferred Prosecution Agreement (DPA) regarding the money laundering case in connection with the FIFA. The bank has set aside $79.7 million to help cover financial penalties for charges of "accepting money from corrupt FIFA sources" and managing accounts that "laundered bribes" for South American football officials. The investigation has also charged 40 FIFA and marketing officials.