The late Primo NEBIOLO, while a member of the International Olympic Committee, took a $20 million bribe from the organizers of the Seoul Games.
With this dirty money, NEBIOLO created a "charity" in Monaco to fund lavish parties.
President of the so-called "charity"?
Prince Albert of Monaco.
From: Dishonored Games: Corruption, Money & Greed at the Olympics by Vyv SIMSON and Andrew JENNINGS:
Prince Albert graced the first public function of Nebiolo's new Foundation. The venue was the Hotel de Paris in Monaco.
Their night of self-indulgence cost $500,000. "The moral aim of this institution is to help cleanup high-level sport," announced Nebiolo. He did not explain how such an aim could be reconciled with the origins of the money paying for the champagne that night.
The costly gala has been held every year since.
Nebiolo signed up a prince to give credibility to the Foundation and one day his prince will rule the tax haven.
Nebiolo appointed himself president and he remains in that position for life. Should the Foundation be closed for any reason, there is no requirement that the $20 million or more in the Monte Carlo bank account goes back to athletes.
Image: Aaron Ernst