US EditionBradenton’s IMG Academy Fined $1.7M for Taking Tuition From Mexican Drug Cartel Associates
IMG Academy accrued 89 violations by accepting tuition payments linked to sanctioned cartel affiliates, settling for $1.7 million and implementing new compliance measures after 2023 ownership changes.
- On Thursday, OFAC announced IMG Academy paid $1.7 million after tuition transactions for two SDNs tied to a Mexican cartel caused nearly 90 violations, with payments from third-party payers in Mexico.
- IMG Academy failed to screen counterparties against OFAC’s SDN list, demonstrating reckless disregard, and disclosed the matter to OFAC as soon as it became aware though OFAC had already opened an investigation.
- Payments came via third‑party wire transfers and on‑file credit cards, with one 2018 enrollment renewed five years and one 2020 enrollment lasting two years, OFAC said.
- IMG Academy announced it cooperated with OFAC and implemented remedial measures after its new chief legal officer conducted a comprehensive lookback and established a sanctions compliance program in 2023.
- The case underscores broad sanctions risk across non‑financial sectors, as OFAC said it highlights pervasive risk and reputational implications for IMG’s student‑athlete pathways to professional leagues.
18 Articles
18 Articles
IMG Academy set to pay nearly $2 million in fines after students' parents linked to Mexican drug cartel
IMG Academy will pay nearly $2 million fine after two student athletes' parents had ties to a Mexican drug cartel, violating U.S. counternarcotics sanctions.
IMG Academy Fined Over Cartel-Linked Tuition Payments
An over £1.2 million fine was imposed on Bradenton's IMG Academy after discovering that the prestigious sports boarding school accepted tuition and other payments from individuals associated with Mexican drug cartels. The Florida Commission for Independent Education (FCIE) sanction follows a lengthy investigation into the academy's financial review process for international students, which state authorities claim failed to identify suspicious fu…
Fox 10 Phoenix
Bradenton’s IMG Academy fined $1.7M for taking tuition from Mexican drug cartel associates
IMG Academy, the world-renowned sports boarding school in Bradenton, has agreed to pay a $1.72 million fine after federal investigators discovered the school spent years taking tuition money from individuals linked to a Mexican drug cartel.
Florida Boarding School to Pay Nearly $2 Million to Settle Lawsuit Over Enrolling Students With Alleged Cartel Ties
A famous preparatory boarding school known for its elite sports programs agreed to pay almost $2 million to settle a potential liability lawsuit after allowing two students with alleged ties to a Mexican cartel to attend the institution.
Elite Sports Academy Paying Massive Fine After Accepting Tuition, Students Allegedly Connected To Mexican Drug Cartel
IMG Academy is paying a settlement of $1.72 million for accepting tuition money from two student-athletes that allegedly have links to the Mexican drug cartel.
Elite Florida sports academy to pay $1.7M fine for accepting students, tuition linked to Mexican cartels
An elite Florida academic and sports training facility has agreed to pay a $1.72 million settlement for accepting tuition from two students with ties to the Mexican drug cartel, federal officials announced.
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