World Athletics blames employees for $1.7M taken in ‘systematic theft’
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MONACO (AP) — World Athletics says it lost more than 1.5 million euros ($1.7 million) to “systematic theft” which allegedly involved its own employees.
World Athletics said on Thursday it handed over detailed case information to “the relevant judicial and legal authorities for criminal investigation” after an audit discovered suspicious activity over several years. It said it terminated the contracts of one employee and a consultant and another employee had already left.
The Monaco-based governing body of track and field didn’t name any of the people it suspects in the theft. It told The Associated Press in an emailed statement that authorities in Britain and Monaco had been contacted.
World Athletics president Sebastian Coe pledged to use “the full force of the law” to recover as much of the money as possible.
“Too many organizations brush incidents like this under the carpet, terminating employment with limited information which allows perpetrators to continue their scams and thefts within new organizations. We are not that type of organization,” Coe said.
“We have built a strong reputation for good governance, transparency and for defending what is right, even if it is sometimes a little uncomfortable. This is uncomfortable but it is important that we do the right thing.”
The sum that World Athletics says was taken is equivalent to more than half of the $2.4 million it paid in prize money to gold medalists at last year’s Paris Olympics, the first sport to do so. World Athletics said last month its total revenue for 2024 was $99.4 million, boosted by Olympic revenue.
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AP sports: https://apnews.com/sports