Fifa: foul play clean up kicks off
The governing body of the world’s most popular sport, Fifa, has been rocked by criminal charges on both sides of the Atlantic.
The governing body of the world's most popular sport, Fifa, was rocked by criminal charges on both sides of the Atlantic this week. US authorities announced that nine football officials and five sports media executives faced corruption charges involving over $150m of bribes. One of the 14 people indicted by the US Department of Justice included Fifa Vice President Jeffrey Webb.
Six people have already pleaded guilty. The Swiss President of Fifa, Sepp Blatter, has not been arrested. In what appeared to be a separate investigation, Swiss authorities raided Fifa's Zurich headquarters and opened criminal proceedings against unnamed parties on suspicion of irregularities in the allocation of the 2018 and 2022 World Cups (which went to Russia and Qatar respectively).
What the commentators said
A key player in this is Chuck Blazer, a former Fifa official turned FBI informant over unpaid tax bills. He apparently kept two luxury Trump Tower apartments: one for him and another for his cats, noted The Guardian's Marina Hyde, while his Amex bill allegedly reached $29m. "It was always going to take the intervention of law-enforcement agencies" to get to the bottom of Fifa's dodgy dealings, said Matt Dickinson in The Times. Let's hope "the biggest cleansing job since Hercules set about those stables has only just begun".
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
Andrew is the editor of MoneyWeek magazine. He grew up in Vienna and studied at the University of St Andrews, where he gained a first-class MA in geography & international relations.
After graduating he began to contribute to the foreign page of The Week and soon afterwards joined MoneyWeek at its inception in October 2000. He helped Merryn Somerset Webb establish it as Britain’s best-selling financial magazine, contributing to every section of the publication and specialising in macroeconomics and stockmarkets, before going part-time.
His freelance projects have included a 2009 relaunch of The Pharma Letter, where he covered corporate news and political developments in the German pharmaceuticals market for two years, and a multiyear stint as deputy editor of the Barclays account at Redwood, a marketing agency.
Andrew has been editing MoneyWeek since 2018, and continues to specialise in investment and news in German-speaking countries owing to his fluent command of the language.
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?
Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
By Kalpana Fitzpatrick Published
-
What does Rachel Reeves’s plan for growth mean for UK investors?
Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
By Katie Williams Published