ISL charged in FIFA funds probe

Managers of FIFA's bankrupt former marketing partner ISL-ISMM have been charged with embezzling funds from contracts which it had with football's world governing body. A four-year investigation into the ISL-ISMM group, once the world's biggest sports marketing company, resulted in charges of embezzlement, fraud and fraudulent bankruptcy for the unnamed defendants - former managers of the company. "The comprehensive investigations extended to five countries within and outside Europe," the examining magistrate said in a statement. The defendants all plead not guilty to the charges.  No date has been set for a possible trial. The investigation into ISL, which handled World Cup marketing and television contracts, was sparked by a complaint filed by FIFA itself shortly after the marketing group collapsed with debts of at least US$300m in May 2001.  FIFA accused the management of not having forwarded monies generated by the license contracts, the magistrate said, adding FIFA suspected that the money had been used by ISL to meet its financial commitments.

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