International Association of Athletics Federations (IAAF) Council member Frank Fredericks will remain provisionally suspended after he failed with his appeal to overturn his ban, it was announced today.
The Athletics Integrity Unit (AIU) confirmed an enlarged panel of the IAAF Disciplinary Tribunal had upheld last month's decision of its chairman, Michael Beloff, to provisionally suspend the Namibian.
"Having heard from both parties, the enlarged panel agreed with the AIU's submissions and it declined to lift the order for provisional suspension," an AIU statement read.
"Mr Fredericks therefore remains suspended from all IAAF duties pending the investigation which the AIU is now conducting."
The investigation into Fredericks, a four-time Olympic silver medallist in the 100 and 200 metres, relates to payments received by Fredericks' company, Yemi Limited, from a company owned and controlled by Papa Massata Diack.
This was prior to Rio de Janeiro being awarded the 2016 Olympics and Paralympics in October 2009, which International Olympic Committee (IOC) member Fredericks voted on.
He temporarily stepped down from his role as a Council member in March before the IAAF confirmed his provisional suspension in July.
A parallel IOC Ethics Commission investigation is also looking into the payments to the company linked to Fredericks.
The 49-year-old has denied any wrongdoing.
"The order for provisional suspension does not prejudge the outcome of that investigation," the AIU statement added.
"Mr Fredericks continues to enjoy the presumption of innocence until the conclusion of the investigative process and any disciplinary process that may follow depending on the results of the investigation.
"The investigation will be led by Sir Anthony Hooper, a former judge of the English Court of Appeal and an experienced investigator in the context of sports integrity."
Documents provided by American tax authorities showed how Papa Diack transferred $300,000 (£245,000/€284,000) to a Seychelles-based offshore company called Yemli Limited in 2009 through Pamodzi Consulting.
Yemli Limited is linked to Fredericks, who referred himself to the IOC Ethics Commission when the accusations surfaced on March 3.
Fredericks claimed the payment was legitimate and related to his role in the promotion of several athletics events when he confirmed his intention for appeal the provisional suspension.
The accusations against him prompted him to step down as the chair of the IOC Evaluation Commission for the 2024 Olympic and Paralympic Games.
He was replaced by Switzerland's Patrick Baumann.
Fredericks insisted the funds are related to a marketing contract dated March 11, 2007, which was due to go towards developing various events including a relay championships, an IAAF marketing programme, the African Athletics Programme, the IAAF Continental Programme and the African Athletics Championships.
Papa Massata Diack is the the son of Senegal's former IAAF President Lamine Diack, the alleged key powerbroker who influenced the votes of others when the 2016 Olympic and Paralympic host city was decided.
Rio de Janeiro was subsequently awarded the Games over Madrid, Tokyo and Chicago at the IOC Session in Copenhagen on October 2 in 2009.
insidethegames has contacted Fredericks for comment.