June 22, 2024

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Innocent tennis star: Why Roger Federer’s name appeared in Argentina’s biggest financial scandal

Innocent tennis star: Why Roger Federer’s name appeared in Argentina’s biggest financial scandal

The innocent tennis star

Why Roger Federer’s name comes up in Argentina’s biggest financial scandal

In Argentina, Enrique Blaxley was sentenced to eight years in prison for fraud and money laundering. Roger Federer’s name appears in the reports.

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“Argentine Madoff”, Enrique Blaxley, was sentenced on March 9, 2023 to eight years in prison for fraud, money laundering and managing criminal assets.

Screenshot infobay

Hundreds of cases Fraud, Money Laundering and Management of Criminal Assets – Argentina’s judiciary sentenced former businessman Enrique Blaxley to eight years in prison last Thursday. According to court documents, Blaxley paid 185 million pesos (more than 850,000 francs) to 300 people through his Hope Funds foundation. cheated. In addition to the prison sentence, the court sentenced Enrique Blaxley to four times the fine of the offence.

Several prominent names stand out in local media coverage of the case: Hope Funds has sponsored high-profile sporting events in Argentina in the past. Various articles have included the names of American tennis icons Venus and Serena Williams, Argentine polo legend Adolfo Cambiaso, former Jamaican sprinter Usain Bolt – and Swiss superstar Roger Federer.

In a picture in Blaxley’s sentencing reports, Federer can be seen with “Argentine Madoff.” In 2012, Hope Funds used dubious money to finance the maestro’s visit to Buenos Aires and two performances where he met local Swiss matador Juan Martin del Potro (20 minutes were reported at that time) has nothing to do with Roger Federer’s financial scandal.

This is how Blaxley ripped off investors

Enrique Blakeslee promised investors 12 percent annual returns in dollars, well above the market rate. Victims initially trusted family and friends, who received the money without any problems. But the deal was a Ponzi scheme: the money used to pay interest came from new customers’ money, not backed by investments.

The case erupted a few years later when Hope Funds filed for more than 25 bankruptcies. Blakeslee was unable to pay the promised revenue, and under pressure from his creditors, the company closed its offices overnight. In September 2018, police arrested the fraudster at his luxury property at Pacheco Golf Club, north of Buenos Aires.