POSTED: December 2nd 2011
NewsUpdate

IOC uncovers internal embezzlement case for over $1.6 million

The Olympic Museum in Lausanne / SFC images
The Olympic Museum in Lausanne / SFC images

LAURA WALDEN / Sports Features Communications

TAMPA: The International Olympic Committee (IOC) has been forced to do some internal housekeeping as an embezzlement investigation erupted in the Olympic Museum for over $1.6 million.

The news broke on 3 Wire Sports as reported by Alan Abrahamson and the IOC has already confirmed that three people have been let go from the finance department in the wake of the news.

IOC director general, Christophe De Kepper, said in a statement that former shop manager, Hiroshi Grieder, has been arrested and put in jail for embezzling possibly somewhere between $1.6 to $1.85 million over a decade from the Museum gift shop.

Grieder left the IOC in 2010 and his predecessor raise the red flag on discrepabcies on the accounts through fake invoices and credit card charges dating back to the 1990's.

The shop is located just inside the entrance of the Museum and has a selection of logo merchandise from various Olympic Games.

De Kepper confirmed that the firing of the finance department staff was linked to negligence and that none of them were accused of fraud.

IOC finance director, Thierry Sprunger, also turned in his resignation but cited health reasons and general job “burnout” after working 17 years at the IOC.

It was also confirmed by De Kepper that Sprunger was not accused of wrong doing however it is his department that oversees the Museum finances.

The IOC carried out an investigation, filed a criminal complaint and is revising their internal controls and procedures.  The executive board will be meeting next week at the IOC and this will probably be up for discussion and clarification.


Keywords · IOC · Christophe de Kepper · Thierry Sprunger


For more information contact:
Laura Walden ()


All original materials contained in this section are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of Sports Features Communications, Inc the owner of that content. It is prohibited to alter or remove any trademark, copyright or other notice from copies of the content.