(Bloomberg) -- Julius Baer Group Ltd. will pay almost $80 million to resolve a U.S. investigation into how it helped facilitate tens of millions of dollars of bribes paid to leaders of FIFA, the governing body for world soccer.

The Swiss private bank announced in November that it had set aside $79.7 million to help cover financial penalties related to an agreement with the Justice Department. Prosecutors said Thursday they had charged the bank with money-laundering conspiracy and would drop the case after three years as part of a deferred-prosecution agreement. The bank entered its not-guilty plea before U.S. District Judge Pamela Chen in Brooklyn, New York, who has presided over multiple FIFA prosecutions.

Julius Baer has cooperated with U.S. authorities since 2015 in an investigation of money laundering and corruption involving officials and affiliates of FIFA and associated sports media and marketing companies, the bank said. The settlement is part of a massive U.S. crackdown on corruption in FIFA that has led prosecutors to announce 26 guilty pleas as well as deferred- or non-prosecution agreements involving several corporations.

A former Julius Baer banker, Jorge Arzuaga, was sentenced in November to three years of probation for facilitating the payment of $38 million in bribes to the president of the Argentine Soccer Federation and the president of the South American Football Confederation. Arzuaga cooperated with investigators.

The bank has faced other scandals in recent years. In 2018, former Julius Baer banker Matthias Krull was sentenced to 10 years in prison for his role in a plot to launder $1.2 billion stolen from Venezuela’s state-owned oil producer Petroleos de Venezuela SA. He admitted joining money launderers who used real estate and false-investment schemes to hide the funds.

In 2016 it signed a deferred-prosecution agreement after admitting it helped thousands of Americans conceal billions of dollars in assets from the U.S. Internal Revenue Service. The firm paid $547 million in penalties, and two bankers pleaded guilty.

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