According to The Sun, Manchester City's shirt sponsor OKX has been fined £381 million in the United States for violating anti-money laundering regulations. Industry insiders are questioning why Manchester City has not yet ended its relationship with OKX.

OKX, founded by Chinese billionaire Star Xu, has been involved in multiple scandals worldwide in recent years. Last year, OKX was fined $504 million (approximately £381 million) in the United States for violating anti-money laundering regulations. A New York court ruled that OKX "facilitated over $5 billion in suspicious transactions and proceeds of crime."

OKX's European subsidiary was also fined in Malta last year for breaching anti-money laundering and counter-terrorism financing regulations. Hamas's military wing, the Al-Qassam Brigades, once encouraged its supporters to use OKX.

OKX became Manchester City's official cryptocurrency partner in 2022 and signed a £55 million deal the following year. Previously, OKX has been involved in multiple disputes over rebranding and liquidations, with users reporting significant losses. China, South Korea, Thailand, and the Netherlands have all launched investigations, and OKX has also paid over £700,000 for operating illegally in Canada.

In 2022, Star Xu was confined for a week in Shanghai due to accusations of defrauding investors. Manchester City has been found guilty of dozens of financial breaches, including "false" sponsorship agreements. Manchester City will display the OKX logo on the sleeves of its shirt for Sunday's match against Liverpool.

An industry insider said: "Manchester City's sponsorship deals are under such intense scrutiny—why hasn't the club ended this relationship? It's remarkable that the club knows OKX is a cryptocurrency exchange favored by terrorists and criminals, yet continues to partner with them."

Manchester City is appealing the Premier League's decision and denies any wrongdoing. The club stated it maintains a long-term partnership with OKX and continues to conduct appropriate "due diligence." OKX declined to comment.

Traduit par IA.

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