World Athletics has revealed that several of its own employees stole around $1.75 million over a period of years in what the federation called a “systematic theft” scheme. The organization says an internal audit uncovered the financial misconduct, which has now been referred to legal authorities in both Britain and Monaco.
The governing body, which oversees global track and field, confirmed that the case involves multiple instances of misappropriation carried out by staff and a consultant. Two former senior officials, Vineesh Kochhar, the federation’s former Chief Operating Officer, and James Lord, former Director of Broadcast, are reportedly among those under investigation.
Both individuals have left the organization and have not commented publicly on the allegations.
In a statement, World Athletics President Sebastian Coe said the organization will use “the full force of the law” to recover the stolen funds and ensure accountability.
“Too many organizations brush incidents like this under the carpet, terminating employment with limited information which allows perpetrators to continue their scams and thefts within new organizations,” Coe said. “We are not that type of organization. This is uncomfortable, but it’s important that we do the right thing.”
The discovery comes at a sensitive moment for World Athletics, which has spent the past decade attempting to rebuild trust following corruption and doping scandals that shook the sport in the early 2010s. Since Coe took over leadership in 2015, the federation has emphasized transparency and good governance, implementing ethics reforms and strengthening financial oversight.
The stolen sum is significant, amounting to more than half of the total $2.4 million in prize money awarded to gold medalists at the 2024 Paris Olympics, the first time any sport paid Olympic champions directly. World Athletics reported $99.4 million in total revenue in 2024, meaning the missing funds represent a notable share of the organization’s annual budget.
Following the discovery, the federation said it has terminated the contracts of those involved and introduced tighter financial controls to prevent further misconduct. An independent review found that falsified invoices and misdirected payments were used to siphon off funds across several years.
Experts say this kind of internal embezzlement, often called asset misappropriation, is one of the most common forms of corporate fraud. It typically exploits weaknesses in oversight and can remain undetected for long periods, especially when senior officials are involved.
The revelations come just months before World Athletics launches its new Ultimate Championship, a global event offering $10 million in prize money and $150,000 for individual winners. The series is part of Coe’s broader push to make track and field more marketable and financially sustainable.
While the organization insists that its overall financial health remains sound, the incident raises questions about whether the safeguards and accountability structures it has promoted are truly effective. For a sport that has fought hard to distance itself from its troubled past, the timing of this scandal is deeply unwelcome.
As investigations continue, World Athletics will be judged not only by how it responds legally but by whether it can convincingly demonstrate that its culture of integrity extends beyond statements of intent.
