Of all the people and organizations on this earth that could get dragged down by the Madoff Hedge Fund Scandal, it’s the International Olympic Committee! Yep, the IOC stands to lose $4.8 Million US Dollars due to their part in the ever widening scandal involving several high-profile people and groups. A spokesman has released a statement on behalf of the IOC that the effects would be minimal and that it wouldn’t endanger the governing body’s finances at all. The IOC has an emergency buffer fund that amounts to around $400 Million US dollars which is reserved for instances say that an Olympic game gets canceled and they have to arrange for a new venue quick. The IOC being a global body, has checks and balances that limits such investments but it will dent their finances and there are a lot of questions that would surely be asked of them. The IOC also says it is reviewing its setup on how such investments are handled and dealt with a reassuring ending that all hosts of the three next Olympic Games are financially sound an dthe money is there for emergency use only.