World Athletics victims of £1.3m corporate theft

After discovering corporate theft worth more than 1.5 million euros ($1.3 million), World Athletics claims to have fired its staff and contacted law enforcement.

The financial fraud, which was carried out over the course of several years by two of its employees and a contracted consultant, was revealed during the organization’s first annual audit under the direction of a new financial leadership team.

Before the theft was discovered earlier this year, one of the employees had already left, and the other, the consultant, and the other, both under the influence of internal investigation, had their contracts terminated.

Sebastian Coe, president of World Athletics, stated that the organization was “determined to recover whatever monies we can using the full force of the law.”

He continued, “Too many organizations brush incidents like this under the carpet, terminating employment with limited information, which allows perpetrators to continue their thefts and scams within new organizations.”

“We are not that organization,” he declared. Even though it can sometimes feel a little uncomfortable, we have a strong reputation for good governance, transparency, and for standing up for what is right.

Although it’s uncomfortable, it’s crucial that we take the right steps.