LAUSANNE — Wu Ching-kuo, the Taiwanese chief of amateur boxing’s governing body AIBA, has been temporarily suspended in an ongoing power struggle involving accusations of financial mismanagement.
AIBA’s disciplinary commission made the move yesterday, but revealed the news today in a statement.
“Wu was found to be in violation of a number of the boxing association’s statutes and disciplinary codes,” the commission said in a statement.
“President Wu has made important commercial agreements and taken key decisions without the EC’s (executive committee) approval. He has signed and taken on several loans,” it said, adding there were no feasible plans for reimbursement.
Wu, who won a recent court battle against AIBA’s executive committee, said he planned to appeal.
His rivals say he has racked up debts worth 15 million Swiss francs (RM64.9 million).
But Wu has insisted the body is financially healthy, accusing his detractors of mounting “a military coup.” — AFP