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Manchester City owner fined for suspicious transactions
Manchester City Football Club is facing a new crisis related to its sponsorship deal with "OKX" after the company was hit with substantial fines due to violations concerning money laundering and terrorism financing. The company's branches in the United States and Malta were compelled to pay large penalties following allegations of facilitating suspicious transactions and financial misconduct. Additionally, they are under legal investigations in several countries, including China, South Korea, Thailand, and the Netherlands. They have also paid over $890,000 CAD in Canada related to illegal activities. Despite these issues, the club remains committed to the sponsorship agreement, which brings in approximately $70 million annually, although questions are being raised about maintaining the relationship with a company under legal scrutiny and accused of links to criminal activities.
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