Federal prosecutors have launched an investigation into USA Swimming, alleging that the organization covered up and discredited sexual abuse claims, concealed assets and improperly received hundreds of thousands of dollars in rebates from its insurance company, according to the Wall Street Journal.
The insurance company, investigators believe, was used as a possible avenue for self-dealing and misstatements in tax filings. Per the report, investigators believe the organization moved money to its philanthropic foundation to conceal its assets. The foundation had just under $5 million in 2008, and then $18.3 million in 2017. Five million was transferred to it in 2011.
“[USA Swimming] supports any government investigation that goes toward protecting athletes,” a USA Swimming spokeswoman told the Wall Street Journal, adding that they are “confident in the integrity of its finances and tax filings.” Accusers were required to submit a formal complaint, and could not do so anonymously. The organization then had an executive who would determine if there was enough evidence to proceed. If there was, they then hired an external investigator to conduct interviews. A lawyer would then reach out to the accusers, claiming to be impartial however actually represented USA Swimming, per the report.
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Source: WSJ - 🏆 98. / 63 Read more »
Source: WSJ - 🏆 98. / 63 Read more »