An undercover investigation carried out by the Sunday Times has revealed that Olympic officials have been selling tickets to this summer's London Games on the black market.
Thousands of tickets have been resold at up to 10 times face value by agents and officials representing at least 54 countries, according to the report.
The International Olympic Committee has confirmed that it will launch an investigation after being handed a dossier of evidence by the newspaper.
An IOC statement read: "These are very serious allegations and we have already taken the first steps to investigate. Should any wrongdoing be proven, we will deal with those involved."
The investigation will be led by former French Judge Paquerette Girard-Zapelli.
