World Athletics has uncovered a massive financial scandal involving “systematic theft” by its own employees, amounting to 1.5 million euros ($1.7 million). An internal investigation and audit revealed that two employees and a contracted consultant were responsible for the embezzlement over several years.
The governing body has taken swift action, terminating the contracts of one employee and the consultant, while another employee had already left the organization before the wrongdoing was discovered. World Athletics has handed over detailed case information to the relevant judicial and legal authorities for criminal investigation.
President Sebastian Coe emphasized the organization’s commitment to transparency and good governance, stating that they will use “the full force of the law” to recover the stolen funds. Coe added that World Athletics will not brush this incident under the carpet, unlike many other organizations.
This incident highlights World Athletics’ strong reputation for good governance and transparency. The organization has introduced enhanced internal financial controls to prevent similar incidents in the future. The stolen amount is equivalent to over half of the $2.4 million prize money paid to gold medalists at last year’s Paris Olympics.
