FIFA says Blatter, others enriched themselves by $80m

An internal investigation by world football governing body FIFA revealed on Friday that former FIFA president Joseph Blatter and other top officials enriched themselves by more than 80 million dollars.

FIFA said in Berlin that Blatter, former secretary general Jerome Valcke and former financial officer Markus Kattner enriched themselves by more than 80 million dollars in the last five years.

READ ALSO  South African Airways gets extension to file accounts in Hong Kong

It added in a statement that the investigation has revealed evidence of breaches of fiduciary duty.

FIFA said it also raised questions about the role of FIFA’s compensation sub-committee.

The Quinn Emanuel law firm conducting the investigation said contract arrangements benefited a small group of former FIFA officials and some contained provisions that appear to violate Swiss law.

“The evidence appeared to reveal a coordinated effort by three former top officials of FIFA to enrich themselves through annual salary increases, World Cup bonuses and other incentives,’’ Bill Burck, Quinn Emanuel partner, said.

READ ALSO  Donald Trump and the Muslim world, By Reuben Abati
To Top