09-11-2010, 12:41 PM
To repeat one of my favourite idiom's: blimey!
The below article surely is guilty in every respect of stating the obvious isn't it?
Only a person as scandolous as I would ever suggest that certain gentlemen with Russian and American background might be amongst those involved?
http://www.tribalfootball.com/report-cla...ing-254227
The below article surely is guilty in every respect of stating the obvious isn't it?
Only a person as scandolous as I would ever suggest that certain gentlemen with Russian and American background might be amongst those involved?
http://www.tribalfootball.com/report-cla...ing-254227
Quote:Report claims Football a vehicle for money laundering
01.07.09 | Ian Ferris
An international agency responsible for tracking the proceeds of crime has warned that the UK football business is at risk of being exploited for criminal activity.
The BBC reports that the Financial Action Task Force (FATF), an intergovernmental agency established by the G7 summit in Paris in 1989, has said there is a danger criminals could buy clubs, transfer players, money laundering and run betting scams.
The FATF report also published two examples of tax evasion by footballers in the UK, and suggested that clubs had knowledge of the illegal action.
In one example, it said an international player said his signing-on fee was disguised as part of a fee to a foreign agent. The agent paid him £300,000 overseas and he did not disclose this to UK tax authorities.
The FATF report says, "It is likely that the club concerned was fully aware that the payment to the agent included a signing-on fee for the player and the benefit to the club in such an arrangement is that it avoided social security contributions of £38,000."
The report recommends that the FA creates a code of best practice to protect against illegal financial activity in football.