JPMorgan Executive Tied to FIFA Stake Sale Scandal Had Past Business Ties to Convicted Sex Offender

Mary Erdoes is one of JPMorgan Chase's most powerful executives and played a key role in Gianni Infantino's failed plan to sell a 20% stake in FIFA's commercial business. She helped lead the effort, which valued the proposed business at around $20 billion and aimed to raise over $4 billion through the sale of shares.

The proposal quickly turned into a political nightmare for FIFA, with UEFA and other football bodies strongly opposing it. Critics questioned whether FIFA should effectively sell part of its commercial value attached to major competitions.

Infantino eventually admitted that 'mistakes' had been made and said the plan should have been handled differently. The failed deal has brought renewed attention to Erdoes' past professional relationship with Jeffrey Epstein, a JPMorgan client who was convicted in 2008 of procuring a minor for prostitution.

Emails show that Erdoes communicated with Epstein after his conviction, including a birthday message in 2012. JPMorgan previously said it filed Suspicious Activity Reports relating to Epstein and that Erdoes ultimately made the decision to close his accounts in 2013.