International Boxing Association (Aiba) president Ching-Kuo Wu has been suspended by the world governing body’s disciplinary commission as the long-running battle for power within the organisation took a fresh twist today (Tuesday).
The news comes just weeks after Wu (pictured) hailed a court ruling that seemed to remove any immediate threat to his position. However, the Aiba disciplinary commission made its move today, citing the Taiwanese official’s decision to enter into commercial partnerships without the backing of the body’s executive committee.
“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 continued, adding there were no feasible means for reimbursement.
Today’s news comes after Wu last month welcomed the Swiss Court of Lausanne’s dismissal of attempts from a rival organisation to seize control of Aiba. The so-called Interim Management Committee (IMC), which was established in July following a vote of no confidence in Wu, has been seeking to remove the Taiwanese official from power amid allegations of financial mismanagement under his administration.
However, the Lausanne court rejected all of the IMC’s claims in full, upholding the position of Wu and executive director William Louis-Marie, who the IMC has also been seeking to oust.
Aiba has previously been forced to maintain that its finances are in order amid reports in the Guardian and New York Times that it was facing severe financial difficulties owing to payments claimed by two commercial entities. The UK and US newspapers both made the claims that relate to Azeri company Benkons and Chinese firm First Contract International Trade (FCIT).
Wu is thought to be planning to appeal against today’s ruling.