By Joanna Plucinska @joannaplucinska
What can 11 luxury watches, a diamond wedding ring, a 401(k) account, three high-performance cars and 10 properties buy? In the case of Jeffrey Webb, an ex-FIFA executive, it’ll secure a $10 million bond releasing him from police custody.
Webb, a former vice president of soccer’s scandal-hit world governing body, was one of seven officials extradited from Switzerland in May for corruption. Since then, he’s also been charged by his home nation, the Cayman Islands, with two counts of conspiracy to defraud and one charge of breach of trust, as well as ‘conspiracy to convert criminal property’.
Webb secured the bond by putting up many of his most prized luxury items, according to the AP. The 50-year-old has also been asked to pay for electronic monitoring while he is under home detention.
On Saturday, he had pleaded not guilty in a New York court to charges of bribery and racketeering. Originally from the Cayman Islands, Webb is the first of nine soccer officials and five marketing executives to be indicted for a $150 million bribery scandal that has brought FIFA to its knees.
The AP reports that the watches included five Rolexes and a Breitling, while the cars included a 2015 Ferrari and a 2014 Range Rover. His wife’s jewelry box is probably much depleted by now as well — a diamond bracelet, a diamond and pearl necklace, one pair of pearl earrings, and one pair of long-hanging diamond earrings have also been handed over as a part of the bond.