An Argentine financial services provider and sponsor of the national team is suspected of money laundering and tax evasion. The AFA headquarters were also searched as part of the investigation.
As part of investigations into a financial services provider and jersey sponsor, police searched the headquarters of the Argentine Football Association (AFA) and the offices of 13 football clubs. According to reports in the newspaper La Nacion and on the television channel TN, officials were searching for evidence of links to the company, which is under investigation on suspicion of money laundering and tax evasion. The sponsor of the Argentine national team has made a name for itself as a financial services provider with a virtual wallet and also offers loans. In addition to the 2022 World Cup champions, the company also supports a number of soccer clubs, including Racing, Independiente, and San Lorenzo.
AFA and companies do not comment initially
First division club Racing confirmed the search of its business premises. The sponsorship agreement with the company was concluded in 2023 and expires at the end of the year. The club promised the judiciary its cooperation. There were no initial statements from the association or the financial services provider.
Suspicion of money laundering and tax evasion
According to media reports, transactions worth the equivalent of almost 500 million euros were carried out via the company’s platform. Among the customers who made large transfers were reportedly mini-jobbers without much purchasing power and people who already had a record of using fake invoices. This led to the launch of investigations into money laundering. In addition, the company did not levy the taxes on money transfers applicable in Argentina on the transactions, thereby evading taxes amounting to the equivalent of almost two million euros, La Nacion reported, citing the authorities.
