American prosecutors agreed to accept cash from the sale of FIFA defendant Jeffrey Webb’s home in Loganville, Georgia, rather than seizing the property itself, according to records filed with a Brooklyn-area court Monday.
The property, which Webb bought in June 2011 for US$590,000 from a construction company that purchased the home while it was in foreclosure, was sold on June 28, 2017 for US$1.5 million, according to Rockdale County, Georgia tax records.
According to a court-approved stipulation and order signed June 27, which was made public this week, Webb’s wife, Kendra Gamble-Webb, who co-owned the property, had consented to a judicial forfeiture of the home in late 2016, about a year after Webb pleaded guilty to seven counts in a racketeering indictment filed against him in connection with the ongoing bribery scandal that rocked world football’s governing body.
As part of the guilty plea, Jeffrey Webb agreed to forfeit a total of US$6.7 million in cash assets and property, which included the Loganville home.
The district court in the Eastern District of New York made a preliminary forfeiture order for the property on Dec. 2, 2016. However, before the final forfeiture was effected, the Webbs entered a contract to sell the property, court records state.
According to the stipulation documents, Acting U.S. Attorney for the Eastern District of New York Bridget Rhode said the government would accept cash from the home’s sale in lieu of the property itself.
“Provided, however, that all proceeds of the sale of the property shall be paid directly [to] the U.S. Marshals Service at closing,” Ms. Rhode wrote, adding that government representatives would attend the closing to ensure payment is received. The U.S. Marshals were authorized to hold the funds from the sale as a substitute for the property “until further order of the court.”
Court records further indicated that US$1.43 million had been deposited into the U.S. government’s Seized Asset Deposit Fund as of June 30, 2017.
The three-story Loganville mansion formerly owned by the Webbs was valued at US$931,000 in 2015 and is located in the small town east of Atlanta, Georgia. A swimming pool was built on the property with the proceeds of bribes funneled through several international bank accounts, front companies and intermediaries, U.S. federal prosecutors have alleged.
The 9,851-square-foot home, which is listed as having six bedrooms and eight bathrooms, was one of several properties Webb owned in the state of Georgia that were potentially subject to asset forfeiture proceedings.