World Athletics Uncovers $1.7M Employee Theft Over Several Years

World Athletics, the global governing body for track and field, has revealed that over $1.7 million was stolen by two employees and a contracted consultant over several years. The fraud was uncovered during the finance department's first annual audit under a new financial leadership team, leading to internal investigations and the termination of the involved parties, except for one employee who had already left. President Sebastian Coe acknowledged the theft, emphasizing the organization's commitment to transparency, accountability, and the introduction of enhanced financial controls to prevent future incidents. Detailed cases have been handed over to legal authorities in Britain and Monaco, with World Athletics determined to recover the stolen funds using the full force of the law. Coe highlighted the importance of addressing such incidents openly rather than concealing them to prevent similar scams in other organizations. This event has put the organization under scrutiny but also reinforced its stance on good governance and integrity in sports administration.