A DEFAULT notice has been issued on the Cayman Islands home owned by embattled former CONCACAF president Jeffrey Webb.
According to Cayman Island Compass, the notice has been levied on the property after loan payments have fallen almost US$41,630 in areas.
Reports have surfaced that a restriction was placed on the property in July 2015, with a deadline set for December 2, after the assets of Webb were frozen by a United States court last year.

Two weeks after the deadline passed attorneys for Fidelity Bank sought to recover the amount they claimed was owed on the property since November 2, 2016, according to the land records.
“By this letter, we give you notice to pay the arrears immediately,” the notice stated, further indicating that the total amount still owed stood at US$367,326.
If full payment of the arrears was not received within seven days of the notice, the bank stated, the property would be advertised for sale and could be sold within three months of the demand notice.

Webb is currently facing racketeering and money-laundering charges in relation to deals brokered on behalf of world football’s governing body FIFA during his tenure as an executive.
Public records show that the property was gifted to Webb in 1998 by a relative, but in November 2002, a $390,000 charge was taken on the property via a loan from British American Bank Ltd. The name of the bank was changed to Fidelity over 10 years ago.

(Sportsmax)