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Home >> Business
UPDATED: 17:19, May 31, 2006
FIVB demands former general manager reimburse the money he embezzled
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The FIVB Board of Administration decided to demand former general manager Jean-Pierre Seppey reimburse the money he embezzled.

The decision was made at the meeting in Lausanne from 19 to 21 May 2006. Seppey, who was fired on August 17, 2005, had largely overstepped his powers and violated FIVB regulations for his own personal gain, which amounts to several million Swiss francs, according to FIVB.

Seppey believes he is entitled to commissions and damages for unfair dismissal, and has since brought legal action against the world volleyball governing body. He has also launched a very virulent smear campaign targeting the FIVB, President Rubn Acosta and Dr. Acosta's wife.

As soon as Jean-Pierre Seppey's actions were discovered, an external accountant was contracted to conduct an audit. FIVB said the audit revealed that he had developed a closed-loop system enabling him to authorise certain expenses, sign the invoices, and order the corresponding payments. Using this system, he engaged in numerous financial dealings unknown to the competent authorities.

Source: Xinhua


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