Police searched the headquarters of the Argentine Football Association (AFA) as part of an investigation into suspected embezzlement and money laundering. The officials were looking for documents on the business relationships between the association and the company TourProdEnter.
The US-registered company had collected over $260 million in sponsorships and payments for international broadcast rights on behalf of the AFA over the past four years.
While most of the funds went to financing the association’s activities, $42 million was transferred to four companies registered in Florida, La Nacion newspaper reported. These companies were founded by suspected front people in Argentina.
Association: Business relationship has been checked
The companies paid millions of dollars in bills for private planes, luxury yachts, cars and real estate. It was initially unclear who benefited from this.
The AFA confirmed a valid contract with TourProdEnter to pursue its business interests abroad. The business relationship was reviewed by courts in the USA and Argentina without any irregularities being found, the AFA said in a statement.
The CEO of TourProdEnter was stopped by police at the airport in Buenos Aires as he tried to board a private plane to Uruguay. His private home was also searched. The AFA headquarters was raided just three weeks ago as part of an investigation into another money laundering case.