Money Laundering and Football
“Rather than simply being used as a conduit for money laundering the proceeds of other crimes, there is some sort of activity relating to player transfers that is generating cash proceeds from criminal activity.”
Recently Untold published a series of articles about how money laundering plays its part in football. Although we pointed to no particular club we tried to suggest that it is hard to find any explanations for why certain clubs are purchased by men with no football experience, spend lots of money, talk the talk about reaching the heights, and then go bust with a big bang.
…The Italian mafia generated large amounts of cash proceeds from arms trafficking, drug trafficking, and other illegal activity. In order to first “place” this cash into the financial system and initiate the money laundering process, the Italian mafia used an organized group of “money couriers.”
These couriers would receive criminal cash in Italy and other parts of Europe, and then illegally smuggle the cash out of Italy and into Switzerland. In Switzerland, the couriers would hand the dirty cash over to Swiss money-laundering broker organizations, such as the “Alfred Bossert organization” and the “Gegis money-laundering broker organization.” (More on these “money brokers” in Part II, “layering”)
Detailed report link: here