27 Apr 2018
The United States lifted sanctions on Thursday on Colombian soccer team Envigado Futbol Club S.A. after it severed ties to a group involved in international drug trafficking and other criminal activities, the Treasury Department said.
The sanctions were imposed in November 2014 because the club’s owner allowed the Oficina de Envigado crime gang to use its balance sheet to hide profits from drug trafficking, extortion and murder-for-hire, the Treasury’s Office of Foreign Assets Control (OFAC) said at the time.
“OFAC lifted sanctions on Envigado Futbol Club after the Colombian government and the soccer team undertook extensive efforts that severed the club’s former ties with the criminal influence of La Oficina de Envigado,” Sigal Mandelker, Under Secretary for Terrorism and Financial Intelligence, said.
By Doina Chiacu, Reuters, 26 April 2018
Link to Reuters.
PLEASE NOTE: Around the time the sanctions were announced in 2014, the soccer team said its “finances are open for inspection and have been fully audited by Colombian authorities,” according to the Associated Press.
Count this content towards your CPD minutes, by signing up to our CPD WalletFREE CPD Wallet