Opponents of amateur boxing chief Wu Ching-Kuo have appealed to IOC president Thomas Bach to intervene to protect the “financial stability of world boxing.”
Wu’s position has been challenged by the AIBA’s executive committee, who claim the Taiwanese had led the sport to the brink of bankruptcy.
In a letter to Bach dated September 29, the executive committee (EC) said Wu “has kept hidden… the fact that auditors KPMG are unhappy with AIBA accounts and will not approve them.”
“We therefore asked President Wu for a full and open accounting of AIBA finances, which we believe are on the brink of technical bankruptcy or insolvency. President Wu has refused to reply to us,” the committee said in the letter.
The committee members suffered an initial setback last week when a Lausanne court confirmed Wu as president following a motion of no-confidence against his leadership. In reply to the letter sent by the committee to the IOC, Wu posted his own on Monday to “express apology for the inappropriate behaviour by certain AIBA EC members,” whose “actions were designed for personal purpose at the cost of boxing’s reputation and development.”