The Government-backed body confirm that documents received from a "whistleblower" within the boxing body have been passed to an independent panel which is probing the claims.

They said: "We have been made aware of these allegations and the findings of the investigation will be reported to the Board of the ABA and shared with Sport England."

An ABAE spokesperson said: "The board of the ABAE has set up an independent panel to investigate allegations that have been made against a number of people within the organisation.

"The decision reflects the Board’s commitment to fairness and good governance and ensuring the allegations are investigated thoroughly and independently before making any decisions on the matter."

As well as the alleged financial irregularities there is concern among some members that the action of long-serving chief executive Paul King in leading an unsuccessful coup against the powerful head of the international body (AIBA), Taiwan billionaire Dr C K Wu, could damage British amateur boxing prospects with the Olympics approaching.

An angry Dr Wu is on record as threatening to "punish the ABAE."


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