World Athletics discovers staff embezzled more than 1.5 million euros

Two employees of World Athletics and a contract consultant have stolen more than 1.5 million euros (about 44 billion VND) from the organization over many years.

World Athletics President Sebastian Coe is determined to take a tough stance on employees.

World Athletics said it had fired two employees and called in law enforcement after discovering the theft of 1.5 million euros.

The financial fraud was carried out by two World Athletics employees and a contracted consultant over several years, the organization said, and was discovered during the first annual audit conducted by its new financial leadership team.

The report added that details of the case have been transferred to judicial and legal authorities for criminal investigation.

World Athletics president Sebastian Coe said the organisation was "determined to recover any money we can using the full force of the law".

“Too many organisations hide things like this,” he added. “Terminating employees without providing full disclosure allows fraudsters to continue their fraud and theft in new organisations.

We are not that kind of organisation. We have built a strong reputation for good governance, transparency and standing up for what is right... It is frustrating but it is important that we do the right thing."

The regulator said it would also introduce “an enhanced set of internal financial controls” to prevent future fraud.

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Source: https://tuoitre.vn/lien-doan-dien-kinh-the-gioi-phat-hien-nhan-vien-bien-thu-hon-1-5-trieu-euro-2025103103053705.htm