World Athletics Uncovers £1.3m Corporate Theft, Fires Staff and Calls in Police
World Athletics has revealed that it fell victim to a €1.5 million (£1.3 million) corporate theft, leading to the dismissal of staff members and the involvement of law enforcement agencies.
The global athletics governing body said the financial fraud – carried out by two employees and a contracted consultant over several years – was uncovered during its first annual audit under a newly appointed financial leadership team.
According to the organisation, one of the implicated employees had already left before the discovery earlier this year, while the second staff member and the consultant were immediately dismissed following an internal investigation. Detailed reports of the case have since been handed over to judicial and legal authorities for criminal investigation.
World Athletics president Sebastian Coe condemned the incident, saying the body was determined to recover the stolen funds “using the full force of the law.”
“Too many organisations brush incidents like this under the carpet, allowing perpetrators to continue their scams elsewhere,” Coe said. “We are not that type of organisation. We have built a strong reputation for good governance and transparency, and even though this is uncomfortable, it is important that we do the right thing.”
In response to the breach, World Athletics announced plans to implement stricter internal financial controls to safeguard against future incidents of fraud.
