GRIMY TIMES EXCLUSIVE: Torneos y Competencias S.A., a South American sports marketing company, has been hit with a colossal $112 million in forfeiture and criminal penalties for its role in an international soccer bribery conspiracy. The Brooklyn federal court saw the filing of a criminal information charging the firm with wire fraud conspiracy.
According to sources, Torneos y Competencias was involved in a 15-year scheme that included paying tens of millions of dollars in bribes and kickbacks to high-ranking FIFA officials, securing broadcasting rights for several World Cups. The company has entered into a deferred prosecution agreement with the government, admitting its part in the corruption.
Robert L. Capers, U.S. Attorney for the Eastern District of New York, emphasized the significance of this case, stating, ‘Today, Torneos is being held to account for its conduct, but under new management it is also being given a chance to change the way the business of soccer is done in the future.’
William F. Sweeney, Jr., Assistant Director-in-Charge of the FBI New York Field Office, echoed Capers’ sentiment, adding, ‘As alleged in this case, we won’t allow businesses to use our financial systems for corrupt practices, and we will continue our search for those entities who are still doing so.’
Richard Weber, Chief of IRS Criminal Investigation, highlighted the company’s role in undermining fair competition: ‘Torneos y Competencias undermined the process of fair and open competition when they engaged in corrupt schemes to pay bribes in order to secure lucrative contracts,’ Weber said.
The investigation is ongoing, with the government following the evidence to bring justice to those who have corrupted soccer. The case serves as a stark reminder of the lengths some will go to for financial gain and the relentless pursuit of justice by law enforcement agencies.
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Key Facts
- State: New York
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|Public Corruption|Organized Crime
- Source: Official Source ↗
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