In a significant development, Bradenton’s renowned IMG Academy has agreed to a substantial financial settlement of $1.7 million. This decision comes in response to the school’s alleged connections with students linked to a Mexican cartel.
According to the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), IMG Academy conducted tuition transactions for two students over four years, resulting in nearly 90 violations of counternarcotics sanctions. These actions reportedly facilitated financial dealings with sanctioned entities.
The OFAC stated, “As a result of IMG Academy’s conduct, designated individuals who provided financial support and services to a sanctioned Mexican drug cartel were able to conduct commerce with U.S. persons and gain access to the U.S. financial system.” This situation underscores the complexities educational institutions may face in adhering to international and federal regulations.
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