October 19, 2020

Money laundering lawyer in Cayman Islands not charged in FIFA scandal


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fifa2By From Caribbean News Now

MIAMI, USA — According to a superseding indictment of senior officials, an attorney in the , who has close ties to local Cayman football organizations, was called before a federal grand jury in the to give testimony about transactions carried out on behalf of former Cayman Islands banker Jeffrey Webb, the former CONCACAF president and FIFA vice president, who has been indicted on $10 million corruption charges.

Webb recently entered a plea of guilty and is awaiting sentencing while under house arrest in the United States. He will be disgorging millions of dollars of bribe money.

Buried in the new indictment are the circuitous methods through which Webb received bribes, and those methods are painfully detailed therein. One bribe payment went as follows:

(1) It originated at Multibank, in Panama. From there, it went to…

(2) The bank’s correspondent account at Bank of America, in the United States…

(3) For further credit to a Citibank account in Florida.

The account(s) in question were controlled by the attorney in Grand Cayman.

However, the unnamed lawyer, whose identity is reportedly common knowledge in the financial community of the Cayman Islands, was not charged in the indictment, nor does he appear to have been charged anywhere else, notwithstanding that moving the proceeds of crime, in this case a bribe, through the global financial system to disguise its illicit origin, or to deliver it to the recipient, is money laundering, which is a 20-year felony in the United States.

Kenneth Rijock is a banking lawyer turned-career money launderer (10 years), turned-compliance officer specialising in enhanced due diligence, and a financial crime consultant who publishes a Financial Crime Blog. The Laundry Man, his autobiography, was published in the UK on 5 July 2012.

For more on this story go to: http://www.caribbeannewsnow.com/headline-Money-laundering-lawyer-in-Cayman-Islands-not-charged-in-FIFA-scandal–28642.html

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