IMG Academy is set to charge each student-athlete directly to their registered credit cards, according to OFAC. If there’s a positive balance left at the year’s end in any of the students’ accounts, IMG Academy plans to roll that over into the following academic year to partially cover the new tuition agreement made with the parents.
OFAC highlighted that IMG Academy showed “reckless disregard for U.S. sanctions requirements.” They pointed out that even minimal diligence could have uncovered that these customers were under sanctions, which led to numerous violations over time.
While IMG may not have known the individuals it interacted with were sanctioned, it was aware of the transactions that led to these apparent violations. IMG Academy had established annual tuition agreements directly with the sanctioned individuals, invoiced them by name, and communicated regularly about payment responsibilities, including handling overpayments and refunds to students’ accounts.
In response, IMG stated that it “fully cooperated” with OFAC’s investigation concerning the parents involved.
Noteworthy alumni from IMG Academy include the likes of JJ McCarthy, Evan Neal, Colonel Tate, Beau Scarborough, Jonathan Isaac, and Nelly Korda, among many other professional athletes.
