IMG Academy fined for accepting tuition funds from dad and mom linked to drug cartels
BRADENTON, Fla. (WWSB) – IMG Academy in Bradenton has agreed to pay a $1.7 million fantastic for accepting tuition charges for 2 college students whose dad and mom are linked to Mexican drug cartels, the US Treasury Division mentioned.
The Treasury Division’s Workplace of International Belongings Management introduced the settlement in an enforcement launch Feb. 12.
Based on the discharge, two college students have been enrolled on the elite tutorial and sports activities coaching academy between 2018 and 2022.
IMG allegedly accepted tuition, lodging and different charges funds from their dad and mom who have been on a sanctions checklist for offering monetary help to a “Mexican Drug Trafficking Group and/or to its primary chief.”
The Treasury Division didn’t title the scholars or the dad and mom in its launch. The tutoring funds have been between $97,867 to $102,235 per tutorial 12 months, the discharge mentioned.
The acceptance of the full of 89 funds, involving wire transfers from third-party people in Mexico, was in obvious violation of the International Narcotics Kingpin Sanctions Laws, the discharge mentioned.
Federal investigators mentioned whereas IMG Academy knowledgeable them of the obvious violations as quickly because it turned conscious of them, an investigation was already underway.
The Treasury Division additionally mentioned IMG Academy demonstrated “reckless disregard for US sanctions necessities,” for accepting funds and failing to conduct sanctions screening checks on its counterparties.
“Because of IMG Academy’s conduct, designated people who supplied monetary help and companies to a sanctioned Mexican drug cartel have been in a position to conduct commerce with US individuals and acquire entry to the US monetary system,” the discharge mentioned.
“This conduct allowed the kids of two of the designated DTO’s (Drug Trafficking Group) leaders to acquire elite tutorial and athletic coaching companies in the US.”
The Treasury Division did notice that IMG had not run afoul of rules within the 5 years earlier than this incident; that IMG took speedy steps after they found the obvious violations to create a compliance program; and the ING cooperated with the investigation.
In an announcement, IMG Academy says it has taken “in depth measures” to make sure compliance:
“IMG Academy is dedicated to sustaining the very best requirements of compliance and integrity in all facets of our operations. Between 2018 and 2022, IMG Academy didn’t have an OFAC sanctions compliance program in place and entered into enrollment agreements and picked up charges from two people who have been unknowingly on OFAC’s SDN Record. Upon changing into conscious of their standing, we disclosed the matter to OFAC and absolutely cooperated with its investigation. Since that remoted incident, in depth measures have been taken by IMG Academy to implement a complete “sanctions compliance program.”
Copyright 2026 WWSB. All rights reserved.
