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world athletics Says its own employees stole approximately $1.75 million as part of a “systematic theft” scheme that lasted several years.
The organization that oversees track and field said Thursday that an internal audit revealed suspicious activity over a period of several years and that it has turned over information about the matter to legal authorities. Britain And Monaco. The headquarters of World Athletics is in Monaco.
People The two targets of the investigation are former chief operating officer Vinesh Kochhar and James, a former director of broadcasting, people familiar with the matter told The Associated Press. God,
The people spoke on condition of anonymity because they did not want their names used during the ongoing investigation.
Website 3wiresports first reported the news and the names of the targets of the investigation.
Neither Kochhar nor Lord responded to messages left by the AP seeking comment.
World Athletics President sebastian coe Pledged to use “the full force of the law” to recover as much money as possible.
“Too many organizations suppress incidents like this, terminating employment with limited information allowing criminals to continue their scams and thefts in new organizations. We are not that type of organization,” Coe said.
“We have built a strong reputation for good governance, transparency and defending what is right, even if it is sometimes a little inconvenient. It is uncomfortable but it is important that we do the right thing.”
World Athletics says the amount taken is equivalent to more than half of the $2.4 million paid in prize money to gold medalists at last year’s Paris Olympics, the first Games to do so. World Athletics said last month that its total revenue for 2024 was $99.4 million, boosted by Olympic revenue.
Next year, the federation is holding the World Athletics Ultimate Championships, which will offer $10 million in prize money and $150,000 for the winners.
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AP Sports: https://apnews.com/sports