US corruption probe closes in Swiss bank Julius Baer, Swiss open banker case

Julius baer

June 9 – Executives of Swiss bank Julius Baer have told US prosecutors that a former employee acted alone when he allegedly helped funnel kickbacks and bribery payments to a soccer official in the Americas, according to Reuters.

The former banker, Jorge Arzuaga, is expected to plead guilty over his role in the FIFA-related corruption scandal, Reuters was told by unnamed sources.

More than two years after the start of the US-led investigation, Julius Baer, Switzerland’s third largest bank, is striving to minimize the fallout over its possible connection to the scandal.

Switzerland’s Office of the Attorney General said on Thursday it is investigating a former bank employee linked to the FIFA probe on suspicion of money laundering, forgery of documents and violation of the duty to report money laundering.

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