The Olympics

The Olympics


News, information and stories about the Olympic Games.

Sunday, 10 October 2004

Rumour and Speculation

There is a rumour, gathering ground, on the net that sponsorship money was syphoned off from the 2004 Olympics into the pockets of certain individuals.

It seems that the money was laundered through an organisation called Octagon. I understand that this company is now being investigated.

The Head of the Athens First Instance Courts, on Thursday, ordered a preliminary investigation into Greek press reports; citing dubious links between Octagon Worldwide Holdings BV and sponsorship deals for the Athens 2004 Olympic Games.

Athens dailies, "Eleftherotypia" and "Avriani", allege that Octagon acted as an intermediary in sponsorship deals involving the Athens 2004 Olympics Games Organizing Committee (ATHOC).

Press reports also claimed that no firm without Octagon representation succeeded in landing a deal with ATHOC.

The case has been assigned to a prosecutor.

This will get very messy, and could well undermine the Olympics as a whole.

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