Khaberni - The International Association of Athletics Federations said on Thursday that two of its employees and a consultant it had contracted with had systematically stolen more than 1.5 million euros (1.75 million dollars) over several years in a theft that was discovered by auditors.
The federation said it discovered the theft during its first annual audit under new financial leadership, prompting an internal investigation.
One of the employees had already left the federation before their involvement was discovered, while the federation terminated the contracts of the remaining employee and consultant after the investigation.
The federation stated in a proclamation: "Detailed cases have been prepared and handed over to the competent judicial and legal authorities for criminal investigation. The International Association of Athletics Federations has issued instructions for an independent forensic audit during that period to complement its internal investigations, and no other fraudulent activity was uncovered. A set of enhanced internal financial controls is currently being implemented across the organization."
Sebastian Coe, president of the federation, said the federation is determined to recover all it can by using "the full force of the law."
He continued: "Many institutions hide incidents like this, and terminate their employees' services with limited information, allowing perpetrators to continue fraud and theft within new institutions. We are not that kind of institution. We have built a solid reputation in the field of good governance, transparency, and the defense of rights, even if it is a bit awkward at times. It is inconvenient, but it is important to do the right thing."
