World Athletics issue statement after alleged fraud totaling to billions
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Reading Time: 2min | Sat. 01.11.25. | 22:00
The theft was uncovered earlier this year by the finance department during the first annual audit conducted under a new financial leadership team
World Athletics has issued a statement following the discovery of systematic internal theft amounting to over €1.5 million (approximately Ksh2.2 billion) over several years.
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According to the organisation, the fraud involved two employees, one of whom had already left, and a contracted consultant. After internal investigations, the remaining employee and the consultant had their contracts terminated.
The matter has since been handed over to judicial and legal authorities for criminal investigation, with World Athletics expressing its determination to recover the stolen funds.
The theft was uncovered earlier this year by the finance department during the first annual audit conducted under a new financial leadership team.
The organisation then commissioned an independent forensic accounting review to supplement the internal probe, which confirmed no further fraudulent activity beyond the identified cases.
In response, World Athletics has introduced stronger financial controls to safeguard against future occurrences.
Speaking on the issue, World Athletics President Sebastian Coe said the organisation remains committed to transparency and accountability despite the uncomfortable nature of the incident.
“Unfortunately, corporate theft happens in organisations around the world and across all industry sectors at different levels.
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. This is what we have done,” Coe stated.
He further emphasised that World Athletics will pursue all possible avenues to recover the lost funds.
“We are also determined to recover whatever monies we can using the full force of the law.
Too many organisations brush incidents like this under the carpet, terminating employment with limited information, which allows perpetrators to continue their scams and thefts within new organisations. We are not that type of organisation,” Coe added.
The World Athletics chief reaffirmed the body’s commitment to good governance and transparency, even when faced with uncomfortable truths.
“We have built a strong reputation for good governance, transparency, and for defending what is right, even if it is sometimes a little uncomfortable. This is uncomfortable, but it is important that we do the right thing,” he concluded.
