The Associated Press reports that the IOC said Fasel's actions "tarnish the reputation" of the Olympic movement, but stopped short of suspending him.
The AP said other ethics rules violation cases have seen lower-ranking officials suffer more harsh punishment, including being barred from serving on IOC commissions. The IOC launched an investigation into Fasel's activities after a Swiss newspaper last year reported allegations that he personally profited from deals brokered by the IIHF's marketing partner, Infront Sport Media, and Proc AG, a company run by one of Fasel's childhood friends.
Fasel denied receiving money but admitted he showed bad judgment in helping his friend's business.
"Today, I realize that this likely was a case of poor judgment. For this I apologise," he has been quoted as saying. The IOC said it took into consideration “the principle of proportionality and [Fasel's] apologies" in meting out its punishment.
