The International Olympic Committee (IOC) has launched an investigation into the black-market sale of tickets fir the upcoming Summer Olympic Games in London.
The IOC held an emergency executive board meeting following the publication in London's "The Sunday Times" of allegations that national Olympic committees in dozens of countries had put tickets to marquee events up for sale at inflated prices tickets.
Undercover reporters for the paper reportedly found 27 officials with access to tickets allocated to 54 countries who were willing to sell them for as much as $10,000 each.
An IOC statement said the body is taking the charges "very seriously" and will "impose the strongest sanctions" against any national Olympic committee found to be violating ticketing policies.
Former Ukrainian Olympic official Volodymyr Herashenko resigned in May amid allegations of black-market ticket sales.
Based on reporting by AP and Reuters