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Argentina’s Central Bank Opens Formal Probe Into AFA Over Alleged FX Violations Tied to About $240 Million

The case centers on foreign payments the federation allegedly kept outside the official exchange market during the 2020–2021 controls.

Overview

  • The administrative inquiry covers US$131,384,828 and €94,999,920—reported at roughly US$240–242 million—in receipts from sponsorships, TV rights deals, and transfers from FIFA and Conmebol.
  • Investigators cite a suspected scheme that reclassified commercial income as donations or “other transfers” to bypass mandatory conversion in the official foreign-exchange market, with some funds not entered into the MULC at all.
  • Contracts under review include nearly €95 million from Adidas, about US$45 million tied to Fox/Imagen Satelital, and roughly US$65 million from Argentina Football Distribution.
  • Those named in the file are the AFA as a legal entity, president Claudio “Chiqui” Tapia, and treasurers Pablo Toviggino and Alejandro Nadur for operations mainly in 2020–2021.
  • The probe is led by the Central Bank’s Superintendence, which requested documentation multiple times since September 2024, and could result in fines, trading restrictions, or a judicial referral if responses are deemed insufficient.