Argentine Marketing Co. Pays DOJ $113M In FIFA Bribery Deal

By Pete Brush (December 13, 2016, 2:20 PM EST) -- Argentine sports marketing company Torneos y Competencias SA agreed Tuesday to pay $113 million as part of a deferred prosecution agreement with the U.S. Department of Justice, admitting it sought to pay bribes to secure the rights to broadcast future FIFA World Cups.

Torneos head Ignacio Galarza speaks to reporters Tuesday outside federal court in Brooklyn. (Pete Brush/ Law360) Brooklyn U.S. District Judge Pamela K. Chen said the deal defers any prosecution for four years.

"Today it's a great day for us because we will start to leave this investigation behind," the company's current leader Ignacio Galarza said outside of federal...

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