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Julius Baer says ex-banker acted alone in FIFA corruption case

Executives of Julius Bär Gruppe AG informed U.S. prosecutors that a former employee acted alone when allegedly helping to channel illegal payments to a soccer official in the Americas, Reuters reported June 8, citing "people familiar with the investigation."

The former employee, who, sources told Reuters, is Jorge Arzuaga, managed accounts for sports marketing executive Alejandro Burzaco. Sources said one account affiliated with the latter held millions of dollars for the late Julio Grondona, formerly the number two official at FIFA, the global soccer governing body.