Police raid Argentine Football Association headquarters in a money laundering investigation linked to a US$42 million transfer to Florida companies.
BUENOS AIRES: Police have searched the headquarters of the Argentine Football Association (AFA) as part of an investigation into suspected embezzlement and money laundering.
Investigators sought documents related to business dealings between the AFA and the US-registered company TourProdEnter.
The firm reportedly collected more than US$260 million in sponsorship and broadcasting fees for the AFA over the past four years.
While most funds financed AFA activities, US$42 million was allegedly transferred to four companies in Florida.
These companies are said to have been set up by suspected front men in Argentina.
According to reports, the companies paid invoices worth millions for private aircraft, yachts, cars, and real estate.
It remains unclear who ultimately benefited from these transactions.
In a statement, the AFA confirmed a valid contract with TourProdEnter to represent its commercial interests abroad.
The association said the business relationship had been reviewed by courts in both the US and Argentina with no irregularities found.
The managing director of TourProdEnter was stopped by police at Buenos Aires airport while attempting to board a private flight to Uruguay.
His private residence was also searched during the operation.
This raid comes just three weeks after police previously searched the AFA’s headquarters in a separate money laundering investigation.
