Jeffrey Webb Secures $10 Million Bond With A Shitload Of Luxury Goods

Jeffrey Webb, the former FIFA vice-president and CONCACAF president, was one of the men arrested in Switzerland in May on corruption charges. Since he didn’t fight his extradition from Switzerland, he was the first of those arrested to be extradited to the United States to face the charges.

In the Eastern District of New York court on Saturday, Webb was released into house arrest on a $10 million bond. That house must be located within 20 miles of the court’s Brooklyn address, and Webb is subject to electronic monitoring as well as a private security company that will monitor his presence and security 24/7, which he must pay for himself.

Webb secured his bond $10 million bond with a whole lot of properties and luxury possessions, including:

Ten homes owned by Webb, his wife, and family

A 2015 Ferrari, 2014 Range Rover, and 2003 Mercedes-Benz

A 401(k) account belonging to his wife, as well as her equity in an unnamed company

Eleven luxury watches owned by Webb

A diamond wedding ring, diamond bracelet, diamond and pearl necklace, pearl earrings, diamond earrings, and two luxury watches owned by his wife

It must be quite common when bonds are posted in corruption and racketeering cases, but it seems funny to me that Webb secured his bond with possessions that he owns because of the proceeds from the (alleged) corruption for which he is being charged. Somehow, however, despite the surrender of eleven of his luxury watches, I suspect that Jeffrey Webb has a twelfth to wear on his wrist.

You can read the order setting the conditions of release and bond below.

h/t Bloomberg and Ben

E-mail or gchat the author: [email protected] | PGP key + fingerprint | Drawing via AP