Default notice on Webb’s home seeks nearly $34,000

A default notice seeking nearly $34,000 in arrears was issued last month against the Cayman Islands home owned by former FIFA Vice President Jeffrey Webb, according to public land records examined by the Cayman Compass.

Webb, 52, faces sentencing in U.S. federal court in May following his guilty plea to racketeering and money laundering conspiracy charges connected with the corruption and bribery scandal that rocked world football in 2015.

According to local land records, a restriction was placed on the property in July 2015 after an asset freezing order against Webb was issued by the U.S. District Court in the Eastern District of New York State. The Caymanian businessman later agreed to forfeit some US$6.7 million as part of his plea agreement.

In July 2016, a further restriction was placed against the Savannah property stating that “no dealings will be permitted” with the property until Dec. 2, 2016.

Two weeks after that deadline, attorneys for Fidelity Bank sought $33,746.70 they claimed was owed on the property since Nov. 2, 2016, according to the land records.

“By this letter, we give you notice to pay the arrears immediately,” the notice stated, indicating “the total amount under the charge” on the home – nearly $300,000 – was still owed, in addition to interest payments accruing at $42.99 per day.

If full payment of the arrears was not received within seven days of the notice, the bank stated, the property would be advertised for sale and could be sold within three months of the demand notice.

The Campbells law firm, which is representing Fidelity in the matter, declined to comment on Thursday.

According to public property records dating to 1998, Webb received the land transfer for consideration of “natural love and affection” from a relative and so was charged nothing for the home. In November 2002, a $390,000 charge was taken on the property via a loan from British American Bank Ltd.

British American changed its name to Fidelity Bank (Cayman) Limited more than a decade ago. Webb worked at Fidelity, first as an employee and later as a consultant. He left the bank in late 2012, according to officials.

Webb pleaded guilty in November 2015 to seven counts of criminal conduct in relation to what prosecutors said was a decades-long bribery racket. Webb pleaded guilty to racketeering conspiracy, three counts of wire fraud conspiracy and three counts of money laundering conspiracy.

The scheme described by U.S. prosecutors claimed that Webb and others at FIFA – world football’s governing body – solicited bribes from sports marketing companies in exchange for directing lucrative broadcasting and commercial rights deals for various football tournaments to the bribe-payers. Dozens of U.S. banks were used to make the bribe payments to Webb and others, prosecutors said.

Webb faces up to 20 years in prison on the racketeering charge alone.

FIFA’s Ethics Committee also found Webb guilty last year of violating general rules of conduct, rules of loyalty, rules for disclosure and financial reporting, conflicts of interest and bribery and corruption. He has been banned for life from “all football-related activities on a national and international level.”

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