Judge Luis Armella ordered on Tuesday raids on the offices of Argentine Football Association (AFA) as part of the investigation into the money laundering claims against financial firm Sur Finanzas.
According to Argentine media outlets, police targeted the association’s headquarters in Buenos Aires City and the national team’s training grounds in Ezeiza, Buenos Aires Province. The Herald reached out to the prosecutors’ office but did not receive a reply.
Authorities also raided the offices, stadiums and training centers of 17 professional football clubs. Among them are some of the biggest names in Argentine football, like Racing, San Lorenzo, and Independiente. There are also several teams from the lower leagues, like Excursionistas, Temperley, and Victoriano Arenas. The police took files and electronic devices from the club’s offices.
Money laundering allegations in connection with AFA The raids were based on money laundering charges filed by ARCA against financier Sur Finanzas owner Ariel Vallejo on December 1 following an investigation by Argentina’s tax agency, ARCA.
The probe detected AR$818 billion (US$553 million) within the company’s finances belonging to shell companies and individuals that did not have the financial capacity to justify their transactions.
The investigation focused on Banfield football club after it was discovered that a €2 million loan was allegedly incorporated into the club’s assets and was not repaid. According to media reports, the prosecution believes that Sur Finanzas used transfer money paid for a Banfield player to channel illegal funds, as the loan had the transfer amount as collateral.
Due to this inquiry, the Argentine police raided the club’s headquarters and Sur Finanzas last week. The investigation has now broadened as money transfers to other clubs were discovered in the company files.
Sur Finanzas is no stranger to the football world. In 2023 and 2024, they were a sponsor to the Copa de la Liga Profesional, the tournament disputed by top-tier teams in the second half of the season.
Vallejo has also admitted to having a close relationship with AFA president Claudio Tapia.
“I have a very nice relationship, especially with [Tapia]. We lend money to several clubs that need financing,” he said in 2023.
In a statement after the first set of raids, Sur Finanzas said that the company has not tried to “hide its existence,” as it has put its “brand on the jerseys of some of Argentina’s most important football clubs.”
“All the services provided by our group are carried out in strict compliance with current regulations,” they said. “If any individual or company that has operated with our platforms has irregularly obtained money, it is up to the courts to determine whether they are guilty of any crime, for which they have our full cooperation.”
Racing, one of the clubs involved, put a statement about the raids on Tuesday, claiming that the club’s deal with the company “ended in 2023” and was “only for sponsorship reasons as far as the current board knows.”
Another club involved, Excursionistas, issued a similar statement.