Eleven former officials of Colombian football club Independiente Medellin were charged on Tuesday with using it to launder drug money.
Among those charged were Rodrigo Tamayo, club president in 1998-2000 and 2004, Tamayo's wife, Dolly Cardenas, and two other former presidents, Mario de J. Valderrama and Luis Fernando Jimenez. Conviction carries a prison term of six to 15 years.
Prosecutor Cesar Velez, using estimates from the club's former auditor Juan Bautista Avalos Salgar, estimated Tamayo laundered $4.6 million during his terms as president.
Avalos Salgar said one way of laundering money would be to sell a player for, say US$100, but enter the transaction on the books as $1,000. This means the extra $900 entered on the books was money gained allegedly through drug trafficking.
Source: NZ Herald
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