Source: Fox News
Summary
The IMG Academy, a high school in Bradenton, Florida, will pay a fine of nearly $2 million after it was found that two athletes’ parents had ties to a Mexican drug cartel. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced that the school committed 89 violations of counternarcotics sanctions. The school will receive wire transfers from non-designated individuals and entities in Mexico and charged payments to credit cards. The OFAC said the school showed “reckless disregard for U.S. sanctions requirements.”
Our Reading
The game followed a familiar script.
IMG Academy, a prep school in Florida, got caught up in a web of deceit and corruption. They thought they could hide it, but the OFAC caught them red-handed.
The school’s lack of due diligence is staggering. They didn’t care who they were dealing with as long as they got the money.
This one felt recognizable early. You know, the whole “we didn’t know, but we should have” excuse.
And now, they’re paying the price. A $2 million fine is a nice chunk of change, but it’s a small price to pay for the damage they’ve done to their reputation.
Original Observation: The fact that IMG Academy’s alumni include professional athletes like J.J. McCarthy and Nelly Korda makes this scandal even more disturbing.
