22 July 2015

Why does anyone have 11 watches?

The Guardian reports:
The former Fifa vice-president Jeffrey Webb has provided 11 luxury watches to secure the $10m (£6.4m) bond that enabled his release from custody, along with his wife’s wedding ring, three opulent cars and 10 properties.
Webb, who was also president of Concacaf, football’s governing body for North and Central America and the Caribbean, was one of seven officials extradited from Switzerland in May for corruption.
He has also been charged by authorities in his homeland, 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”.
According to an order filed on Monday setting the conditions for release, Webb secured the bond with five Rolex watches plus a Cartier Roadster, Hublot, Breitling, Panerai, Royal Oak Offshore and Luminor Marina. The government noted the Hublot has not yet been turned over to the FBI and must be provided by 2 August.
Webb’s bond is also secured by a 2015 Ferrari and 2014 Range Rover, a 2003 Mercedes-Benz and a $401,000 account in his wife’s name. His wife’s diamond wedding ring is also included as security.
As my own watch cost me the vast sum of 4.50 euros, it is just as well that I am not a football bigwig.


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