WORLD ATHLETICS SAYS 2 EMPLOYEES AND CONSULTANT EMBEZZLED $1.73 MILLION. (PHOTO).

 World Athletics says 2 employees and consultant embezzled $1.73 million

World Athletics has revealed that two employees and a consultant allegedly embezzled $1.73 million over several years, following an internal audit that uncovered "systematic theft."

One employee had already left the organization, while the second employee and the consultant were terminated once the alleged misconduct came to light. The audit was conducted under the organization’s new financial leadership team, marking their first full review of the federation’s accounts. World Athletics, formerly the International Amateur Athletic Federation, governs track and field, road running, cross-country, race walking, mountain running, and ultra running, and is headquartered in Stockholm, Sweden.

President Sebastian Coe said the organization is committed to addressing the situation thoroughly. “The most important thing is to identify it, review how it was able to happen, and then introduce new processes and enhanced controls to ensure it doesn't happen again,” Coe said. He added that detailed reports have been submitted to authorities for criminal investigation and that the federation will pursue recovery of the stolen funds.

World Athletics also conducted an independent forensic accounting review, which found no additional fraudulent activity. The organization is implementing stronger internal financial controls to prevent future incidents and maintain its reputation for transparency and good governance.