PwC begins valuation of GuySuCo assets

first_img– despite int’l firm facing ban, fraud charge in IndiaDespite being handed a two-year ban last week for allegedly overstating the earnings and assets of Indian software company Satyam Computer Services, the international audit firm Pricewaterhouse Coopers (PwC) on Monday commenced the process of evaluating the assets of the Guyana Sugar Corporation (GuySuCo).According to the Special Purpose Unit (SPU), which falls under the National Industrial & Commercial Investments Limited (NICIL), PwC was selected from a field of the top four international financial services’ providers, and has for the last seven years been ranked as the most prestigious accounting firm in the world.The agreement between NICIL and PwC was signed on Friday, January 12, 2018, and work commenced on Monday with meetings held between PwC and the SPU team at its La Bonne Intention offices.PwC Caribbean Partner, Wilfred BaghalooPwC will hold its first meeting with the CEO of GuySuCo today, in order to carry out the valuation of all assets. In addition to the valuation, PwC is expected to provide other advisory and financial services.Having met with the sugar company, SPU Head Colvin Heath-London has said he is encouraged that the SPU was able to get the PwC team in Guyana speedily. “With the current developments in the sugarcane sector, we are working to bring stability to the industry and affected communities as quickly as possible,” he explained.Heath-London has said, “The work of PwC, given their vast experience in this type of process, will help all decision-makers to arrive at the best decisions for the assets of GuySuCo; for other businesses that are in the GuySuCo supply chain; and, most importantly, for the workers, who are uncertain about their future.”Meanwhile, PwC’s Caribbean partner, Wilfred Baghaloo, has said he looks forward to the opportunity of working with the Government and people of Guyana to find a practical economic solution to the privatisation of the three sugar estates on a timely basis. While noting that this will be a challenging task, Baghaloo has said the PwC is equipped to ensure that the project is successful.And while PwC will be tasked with ensuring a level playing field for all interested parties and stakeholders as the process goes forward, a report originating from international news agency Reuters and other news sites in India has claimed that PwC has been handed a two-year ban last week for allegedly overstating the earnings and assets of the Indian software company Satyam Computer Services.The report states that PricewaterhouseCoopers was the audit firm at the time the more-than US$1 billion fraud occurred. It was the founder of the company, Ramalinga Raju, who blew the whistle on the fraud in 2009, costing shareholders billions and shaking the industry.Besides the ban, Reuters said, the Securities and Exchange Board of India has handed down an order for PricewaterhouseCoopers Bangalore and two of its former partners to pay 131 million rupees, or US$2 million, plus interest, in forfeited funds. This must be done within 45 days, with the ban taking effect on March 31.In its defence, PricewaterhouseCoopers is quoted as saying it would appeal the regulator’s decision in court. It has defended itself by affirming that there was no “intentional” wrongdoing in the fraud at Satyam.When asked about this issue on Monday, Baghaloo said, “I cannot comment too much on this as the matter is subject to an appeal. In summary, the matter relates to a 2009 event relating to a specific company and a specific stock exchange. We continue to service our numerous clients in India, and we continue to enjoy their support and confidence. As it relates to the task at hand in Guyana, our long history of strong commitment to excellence, integrity, innovation and quality will continue.”GuySuCo, which is saddled with billions of dollars in debt, is currently engaged in divesting its assets to get cash to meet its operational and other expenses. At the same time, Government is forging ahead with downsizing the industry, citing the economic feasibility of the sector.At present, a Special Purpose Unit (SPU) is in charge of this process. That unit was first announced by Agriculture Minister Noel Holder when he presented to the National Assembly a policy paper on the future of the sugar industry. Some $130 million have been allocated “to provide for the establishment of a Special Purpose Unit to manage the reform of the sugar industry”.In July, the Government had presented a supplementary request to tap the national coffers. The National Assembly has since approved the monies for the Unit.At the time that monies were being approved for the SPU, Finance Minister Winston Jordan had said Government was unclear as to what it was looking to earn from the sale of the GuySuCo assets, since those assets had still needed to be properly evaluated.PwC, which was awarded the$60 million contract, will lead the divestment process, including updating valuations of the assets of GuySuCo. PwC’s work on the GuySuCo project is expected to last eight months.last_img read more

Proposal on park purchase

first_imgPALMDALE – The city will pay $27.8 million for the 120-acre Fairway Business Park, under the terms of a proposed settlement aimed at resolving a legal battle over the value of the property. Under the proposal, Palmdale will pay developer AC Warnack $27.8 million for the business park, on Avenue O between Seventh Street West and Division Street. The purchase will be made using money from additional property tax revenue generated by redevelopment, with payoff expected in 2026. “It’s a negotiated settlement I think we can all agree to,” Mayor Jim Ledford said. “This will allow us to develop the park.” The value of the site has been in dispute for more than three years and in litigation for two of those years. (661) 267-5743 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! Under the terms of a 1998 agreement for the property, the city was to acquire the property in late 2003 for fair market value. At that time, a city-commissioned appraisal estimated the value at $2.2 million while Warnack’s appraisal came in at $23 million. A third appraisal was conducted and it also came in at about $23 million. Palmdale’s Redevelopment Agency then exercised a right to rescind the purchase of a portion of the site, more than 30 acres. The actions prompted litigation over a number of points, including whether the purchase price was properly set; whether the redevelopment agency properly exercised its right to rescind portions of the purchase; and whether the city had completed improvements and landscaping it had agreed to conduct. Under the terms of the proposed settlement, the city will also pay Warnack $130,000 for legal fees. last_img read more


first_imgDonegal face Laois tomorrow in a bid to get our All-Ireland dream back on track.We have a family pass of two adults and two childrens’ tickets to give away free for tomorrow’s game in Carrick-on-Shannon.Simply answer this question and email your answer to and we will pick a winner by 6pm this evening. The question is which Donegal player from Kilcar was injured in the Ulster Final against Monaghan last weekend?Don’t forget to include your name, address and phone number with your email. WIN FREE TICKETS TO SEE DONEGAL FACE LAOIS was last modified: July 26th, 2013 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:all-irelanddonegalfree ticketsLaoislast_img read more


first_imgMore than 250 runners and walkers braved miserable conditions to take part in the Inaugural Letterkenny Educate Together NS 5k and 3k Fun Walk.Sean McFadden, right, was the winner of the 5K.The Senior Mens Category was won by Sean McFadden in a time of 17:23 while the Womens winner was Nikita Burke in a time of 19:18.More importantly, crowned as “Fastest Dad” at LETNS was Darren Beecroft (19:55) while “Fastest Mum” was Aideen Veldman (29:03)! The organisers would like to thank all who participated and also all the many local businesses who supported the event.The following is a list of all the runners and their times.Place Race Number Race Time Name Category1 463 17.23 Sean McFadden SM 2 133 17.34 Paul Doherty SM3 412 17.47 Martin Mooney SM4 405 18.33 Paul Dillon SM5 439 18.41 Paul Murray SM6 6 18.44 Dan Friel SM 7 77 18.45 John Daly M408 458 18.48 Jason McDaid SM9 413 18.54 Shaun Boyce SM10 408 18.58 Colly O Donnell M40 11 454 19.12 Kirean McBride SM12 438 19.13 Adrian Gill SM13 67 19.18 Nakita Burke SW14 422 19.32 Gavin Crawford SM15 423 19.32 Kirsty McElwaine SW16 489 19.33 Jonathan Edwards SM17 411 19.40 Michael Galvin M4018 455 19.44 Paul Stewart SM19 451 19.49 Fergal Friel M4020 431 19.52 John McFadden SM21 80 19.55 Darren Beecroft M4022 134 19.57 Gerard Callaghan M4023 459 20.04 Mark Canning SM24 138 20.14 Conor Sweeney SM25 466 20.24 Cathal Morrison M4026 462 20.25 John McCarron M4027 136 20.29 Darren Watson SM28 426 20.36 Michael Shiels SM29 63 20.37 Karl Sweeney SM30 5 20.39 Stephen Cunningham SM31 430 20.50 Chris Nee M4032 94 20.52 Chris Taylor M4033 415 20.53 John Hughes M5034 491 21.02 Emma McGee W3535 490 21.03 Ciara Quigley SW36 465 21.13 Helen Kennedy W4537 65 21.16 Fin Begley W3538 404 21.16 Eugene McGettigan SM39 432 21.19 Keith Fletcher M5040 99 21.23 George Rahmawt SM41 409 21.29 Paul Sweeney M4042 68 21.33 Clíodhna Dunne –43 486 21.37 Aidan McFadden SM44 81 21.38 Catherine McKinley W3545 452 21.52 Rory Reynolds –46 457 22.02 Louis Bradley M6047 417 22.09 JB –48 95 22.12 Kevin Gallinagh SM49 62 22.13 Stephen Sweeney M4050 407 22.16 Pat Brady –51 485 22.17 Sammy Johnston M4052 460 22.22 Cormac Nolan M4053 406 22.39 David Mc Hale SM54 15 22.50 Ian Alexander M4055 17 22.51 Liam McLaughlin M5056 12 22.52 John Mc Elwaine SM57 2 23.10 Anne Robinson SW58 456 23.10 Brian McBride M6059 428 23.13 Laura Black Juvenile60 18 23.25 John Craig M4061 418 23.27 Tommy Doherty M5062 429 23.31 Emmet McClafferty SM63 488 23.46 Pauric McGarvey SM64 445 23.48 Gary Price SM65 442 23.54 Justin Mc Cauley SM66 436 24.03 Eimear McClafferty SW67 492 24.05 Jackie Callaghan W3568 132 24.16 Aimee Mc Gill Juvenile69 416 24.16 Shaun Black M4070 78 24.24 Curtis Gibson SM71 101 24.31 Alex McDermott Juvenile72 60 24.37 Adrian Bernat Juvenile73 453 25.14 Claire Harkin W3574 433 25.23 Patrick Patton M4075 7 25.45 Orlaith Trearty SW76 82 26.09 Liam Kelly SM77 83 26.12 David Gallagher –78 100 26.18 Jean McGlinchy W4579 135 26.18 Rory Callaghan –80 443 26.20 Sharon Thompson SW81 446 26.25 John O Donnell M4082 69 26.29 Danny McLoughlin Juvenile83 16 26.38 Antain Boyle Juvenile84 14 26.42 Phil Boyle M4085 441 26.44 Rodney Mc –86 79 26.53 Noreen Lynch SW87 131 26.53 Denise McBride SW88 98 26.55 Mary Bonner W4589 427 27.10 Lee Ponsonby SM90 420 27.27 Ciara Johnston –91 96 27.41 Laoise Morgan Juvenile92 444 27.51 Frances Spencer W3593 9 28.49 Martin Donaghy SM94 66 28.49 David Gurney Juvenile95 70 28.49 Michael Parkinson M5096 3 28.54 Dave Bradley M4097 440 28.59 Angela Gallagher SW98 64 29.00 Mairead O Donnell SW99 92 29.03 Aideen Veldman W45100 90 29.08 Jamie Cunningham Juvenile101 137 29.09 Rebecca Quinn Juvenile102 71 29.54 Jamie Callaghan –103 93 30.27 Elaine Grimes W45104 461 30.33 Laura Neilson SW105 484 30.33 Denise McClintock –106 419 30.46 Martina Murray W35107 8 30.54 Kelly Trearty SW108 410 30.59 Frances Gallagher SW109 487 30.59 Joanne Gallinagh SW110 425 31.05 Donna Ponsonby SW111 86 31.16 Karen Patton SM112 4 31.18 Geraldine Bradley W45113 85 31.20 Uljana Ciubarova Juvenile114 84 31.35 Claire McBride SW115 87 31.35 Necip Gercek –116 97 31.40 Amelie Gavin Juvenile117 89 31.57 Mags Kelly W45118 482 31.58 Amy Britton SW119 483 32.22 Liz Mulcahy Walker120 414 32.40 Laura Devir SW121 102 33.49 Billy Meagher Juvenile122 61 34.34 Martina Kerr-Quinn –123 38 35.27124 447 36.58 Kerem Yilmaz SM125 449 36.58 Ezgi Yilmaz SW126 468 38.00 Kalea Tinney Juvenile127 469 38.00 Holly Tinney Juvenile128 470 38.00 Barry Tinney M40129 402 39.34 Jacqueline Higgins W35130 403 39.34 Stephen Higgins SM131 448 44.27 Maureen Jordan W35250 TAKE PART IN LETTERKENNY EDUCATE TOGETHER 5K – WHERE DID YOU COME? was last modified: April 29th, 2015 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:5kdonegalLetterkenny Educate Togethersean mcfaddenlast_img read more

Man United v Juventus confirmed teams: Ronaldo starts, Chong on bench for hosts

first_imgUp front, there is plenty of pace and power as Romelu Lukaku is flanked by Marcus Rashford and two-goal hero Anthony Martial.United will be looking to get their first win of the season at home in Europe after drawing at home to Valencia in their last game.Meanwhile, Juve are top of Group H having won their opening group games in convincing style.Manchester United XI: De Gea, Young, Lindelof, Smalling, Shaw, Mata, Matic, Pogba, Rashford, Lukaku, MartialJuventus XI: Szczesny, Cancelo, Bonucci, Chiellini, Sandro, Bentancur, Pjanic, Matuidi, Cuadrado, Dybala, Ronaldo. Martial keeps his place in the starting XI Jose Mourinho has named the same starting XI which drew 2-2 with Chelsea on Saturday for the visit of Juventus in the Champions League on Tuesday night.The Red Devils once again field an attacking line up with Juan Mata partnering Paul Pogba and Nemanja Matic in the centre of midfield.center_img 1last_img read more

Watch man, 85, has time on his side

first_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREWalnut’s Malik Khouzam voted Southern California Boys Athlete of the Week Mike Puetz owns Henri’s, which is named after his father, who bought the place in 1972 and expanded it a few years later when he bought the pool hall next door and turned it into another dining room. This is where many of the merchants on Canoga Park’s Antique Row start their day. And no merchant has been starting it longer on this stretch of Sherman Way than the last member of the San Fernando Valley Jewelers Association. “Vinnie’s the biggest antique we’ve got,” jokes Fred Grayson, who’s sitting next to his pal. Fred used to own Grayson’s Electric before he retired and became another Henny Youngman. Lionel Rivers, a retired furniture salesman sitting in the booth across from Fred and Vince, laughs. Vince just smiles and keeps on eating his oatmeal. His buddies, 15 years his junior, are retired. He’s still working. He doesn’t have all day to be sitting here trading one-liners with them. He’s got a living to make. “These guys do all the talking; I just listen,” Vince laughs, thanking a few people who stop by his booth to wish him a happy birthday. At 7 a.m., he tells his buddies to have a nice day, and heads up the block to Vincent’s Canoga Park Jewelers, which he opened in 1960 with his wife, Virginia, who still keeps the books. Vince won’t open for business until 9 a.m., but he likes to get in early and enjoy some quiet time, fixing his customers’ watches before Sherman Way comes alive. He unlocks the front door, slides open the iron gates behind it, and turns off the alarm – just as he’s been doing five mornings a week for the last 45 years. At 5:30 p.m., he closes the doors and goes home. John Wayne, Doris Day and Chuck Connors are just a few of the personalities who have walked through Vince’s doors over the years, looking for a watch. “Connors found one he liked, put it on his wrist, and said he’d have his agent send me a check,” Vince says. “Never heard from him again.” It’s OK, though, because he’s long past keeping score on who owes him what, Vince says. Besides, he doesn’t sell many watches these days. Mostly he spends his day fixing them. “People will stop and give Vinnie their watch to fix, but I’ve never seen him take any money for it,” Puetz says. “A lot of people just buy him breakfast.” He takes money, Vince says, just not a lot of it these days. The jewelry-, clock- and watch-repair business isn’t what it used to be when he moved out here from Chicago after attending the Chicago School of Watchmaking. “All the jewelers in our association were older than me, and they all just passed away over the years. I’m the last one left.” He sits at his workbench to take apart a vintage Omega watch that one of his longtime customers has brought in for repair. The watch is probably worth about $500, and it will take him about two days to fix it. With labor and materials, he’ll probably charge around $100. But these jobs are getting fewer and fewer every year as watches get cheaper to buy. When they stop, people don’t bother to fix them anymore, Vince says. They just throw them away and buy another one. “I used to have cigar boxes full of watches to repair. Now I have two or three.” But the biggest antique on the block isn’t about to quit. He’s seen too many of his friends do that and go downhill fast, Vince says. He’ll continue showing up at Henri’s at 6 a.m. for his bowl of oatmeal that tastes like a bear claw. Continue the good-natured sparring with his buddies, eating their omelets and french toast. “I’ll retire when they bury me,” says the last member of the San Fernando Valley Jewelers Association. Happy 85th birthday, Vince. Dennis McCarthy’s column appears Tuesday, Thursday, Friday and Sunday. Dennis McCarthy, (818) 713-3749 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! “I’ll retire when they bury me.” – Vince Degani, who turns 85 today. The last member of the San Fernando Valley Jewelers Association slid into a booth at Henri’s Restaurant at 6 a.m. Friday to greet the day with a bowl of oatmeal topped with raisins before heading off to work. It used to be a bear claw dripping in butter, but, hey, when you’re turning 85, you’re already starting to think about 86. “The doc says I got to watch my cholesterol, so I’m watching it,” Vince Degani says. “It’s OK. Mike makes oatmeal that tastes like a bear claw.” last_img read more

Chelsea warned it would take a huge offer to capture Fellaini

first_imgEverton boss David Moyes has reacted to reports of Chelsea’s apparent interest in Marouane Fellaini by insisting it would take a huge offer to prise the Belgian away from Goodison Park.Fellaini has been in fine form this season and is tipped to follow the likes of Joleon Lescott and Jack Rodwell by making a big-money move from the Merseyside club.Chelsea are said to be planning to table a £30m bid for him when the transfer window opens in January.And Moyes said: “They [other clubs] know where Felli is. They know where to come and watch him. They know as well that it will be a big price if they are interested.” 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 Follow West London Sport on TwitterFind us on Facebooklast_img read more

Water resources agency for SA

first_img15 August 2005The Cabinet has approved the establishment of a National Water Resource Infrastructure Agency (NWRIA) by April 2008 to ensure long-term water security for South Africa.The agency will take responsibility for developing and operating South Africa’s major national dams and water transfer schemes that are currently managed directly by the Department of Water Affairs and Forestry.These include the Vaal Dam, the Tugela-Vaal transfer system, the Orange River Scheme and the Western Cape system.The agency will also integrate the TCTA, the parastatal organisation responsible for funding the Lesotho Highlands Water Project.However, it will not be responsible for domestic water supplies that remain the responsibility of municipalities and regional water boards.The Department of Water Affairs and Forestry said in a statement earlier this month that the organisation would be a “major” business in its own right, with its assets currently valued at nearly R40-billion and bulk water sales bringing in more than R2-billion annually.The decision to establish the agency resulted from studies on the management of national water resources infrastructure going back to the 1998 White Paper on a National Water Policy.“The studies noted that water is a strategic resource for South Africa that faces many water-related challenges, notably extreme rainfall variability that is being aggravated by climate change as well as growing demands from all sectors of the economy and society,” the department said.This required both close oversight by government of decisions related to the development and allocation of water, as well as effective management of the country’s infrastructure.“A need was also identified to enable funds to be raised for development projects to serve large users from commercial sources in a manner which allows government’s limited finances to be focused on meeting social needs.”The Ministry of Water Affairs and Forestry will still be responsible for deciding what projects need to be built, in terms of the National Water Resource Strategy.The agency will be required to make funding arrangements, ensure that projects are designed and built according to appropriate technical, social and environmental standards, and ensure that they are operated effectively and efficiently.The establishment of the agency will see a phased integration of the department’s water resource infrastructure branch and TCTA.The TCTA has already been tasked to finance and implement projects such as the Berg Water Project in the Western Cape and a new R2-billion pipeline from Vaal Dam to assure supplies to Eskom and Sasol.The department said the integration of TCTA into the new agency would be done in a manner that would not to affect its obligations to the financial markets, its project credit ratings, or explicit government guarantees relating to the Lesotho Highlands Water project.Source: BuaNewslast_img read more

First impressions: Motorola’s new Moto G

first_imgBy all accounts Motorola’s Moto G, which was launched last year in November, was a success. It helped Motorola sell millions of Moto phones around the world. In India, the device proved incredibly popular as it offered consumers clean and usable Android experience at a price that was very reasonable.Now Motorola is back with the next version of the Moto G. Taking a leaf out of Apple’s book, Motorola is not adding anything to the name of the new phone. It is just called the Moto G. For retail purposes, Flipkart, which is the exclusive retailer for Moto devices, will call it ‘2nd generation’ Moto G but the name, at least on the product box, is just Moto G. But take the hint from Flipkart, we are also going to call the new phone Moto G (2nd gen).We will take a detailed look at the device in our review. But for now, we can tell you about our first impressions after we tried the device briefly at Motorola’s launch event in New Delhi.In terms of core hardware, the new Moto G is similar to the older one. But there are changes. The biggest change — literally — is the size. The Moto G (2nd gen) sports a bigger screen. It is a five inch-screen on the new devices compared to the 4.5-inch on the earlier Moto G. Thankfully, Motorola has increased the screen size in a way that doesn’t add much to the overall dimensions and weight of the device. It is still fits in a hand relatively well, mostly because of the curved back, and doesn’t feel unwieldy.advertisementBelow and on the top of the screen, there are speakers. We will check the sound quality of these speakers in our review.The screen still has 720P resolution but it seems to show punchier colours compared to the screen on the older Moto G. The viewing angles too seem somewhat better.Another big change between the older and newer Moto G is the camera. The older one shoots 5-megapixel images. The newer shoots 8-megapixel images. A few images that we clicked with the Moto G (2nd gen) hinted that the camera performance has improved. But we will like to use the device for a little bit longer before we can talk about its performance in definite terms.The build quality too seems to be better on the newer Moto phone. It feels sturdy and finishing looks good, better than what Desi manufacturers Micromax and Karbonn manage in their phones.The Moto G (2nd gen) is powered by the same processors that was used in its predecessor. While this looks like lack of progress, we did not see any performance related issues with the device during our time with it. The user interface (UI) was fast and fluid, the subtle UI animations were handled without any lag, scrolling was smooth and apps opened in a jiffy.The Moto G (2nd gen) runs Android 4.4 with the stock launcher and interface. Motorola calls it “pure android experience” because unlike other manufacturers it doesn’t modify the software interface in its phones.Overall, we can say that Moto G (2nd gen) looks like a decent upgrade to arguably the most popular Motorola smartphone. we would have liked to see a little bit more powerful hardware but Motorola, in a bid to keep the cost of the phone down, focused on two components that matter most — screen and camera.We will put the device through its paces in our review and test it against some other devices available in the market. Stay tuned for our review.last_img read more

Defiant Sepp Blatter regrets he did not reform FIFA

first_imgFormer FIFA president Sepp Blatter acknowledged on Friday that he failed to reform the scandal-ridden world soccer organisation but asserted he was not responsible for corruption in its regional organisations.Blatter spoke to more than 400 people at the University of Basel, where a student group has been preparing proposals on how FIFA should address the scandal.The disgraced FIFA head appeared at the event with Luis Moreno Ocampo, a former International Criminal Court prosecutor who accused the 80-year-old Swiss citizen of turning a blind eye to corruption within regional soccer organisations.Dozens of officials, including former members of FIFA’s executive committee, have been indicted in the United States and Blatter has been banned for six years by its ethics committee.”I regret I have not done enough to bring back FIFA on the right track,” Blatter told the meeting. But he insisted that while he led FIFA, the actions of leaders of regional soccer organisations did not fall under his purview.”Those things they did within their confederations,” he said. “I don’t have any power to intervene in their confederations.”Blatter was banned from soccer activities for ethics violations in December along with Michel Platini, a former French national player who rose to become head of the European football association UEFA.The pair were suspended in October pending an investigation into a 2 million Swiss franc ($2.07 million) payment to Platini that FIFA made to European boss Platini in 2011.Platini has said the payment was for work he did as a FIFA advisor between 1999 and 2002 and the nine-year delay in payment was due to FIFA’s financial situation.advertisementBlatter was unapologetic about the payment, saying it was an unwritten “gentleman’s agreement,” though he conceded the transaction should have been documented earlier.”This is a debt, and we paid the debt,” he said. “Perhaps it should have been indicated at the very beginning that we had something due to him. But this is an administrative and financial procedure and this had nothing to do with ethics.”Blatter appealed his six-year ban to the Court of Arbitration for Sport in Lausanne in March, seeking to have the penalty revoked. Platini has also appealed to this court.Ocampo, now a Harvard University professor, said Blatter was supposed to be an example for world football. “The problem is his silence,” he said. “As president of FIFA, he had to be an example. Even if he was not involved, why was he silent?”The two-hour-long event was interrupted by protests including from people shouting “FIFA must go” and a banner reading “Slave Labor”, a reference to Qatar’s stadium building ahead of the 2022 World Cup that has been criticised by groups including Amnesty International for human rights abuses.They were removed by security.FIFA said last month it paid Blatter 3.63 million francs last year, publishing his salary for the first time under new governance regulations.FIFA also announced it lost $122 million in 2015, its first deficit since 2002, attributing that mainly to the costs of battling the worst graft scandal in its history.In February, FIFA elected Gianni Infantino, a former UEFA general secretary, to replace Blatter.He has vowed to lead FIFA reforms, but Swiss police raided UEFA headquarters this month to seize information about a contract disclosed in the Panama Papers that he signed. He has denied wrongdoing.last_img read more