International Olympic Committee  has started a probe into  alleged violations in the sale of London Olympics Tickets.
The Sunday Times first voiced the claims which prompted IOC to hold an emergency meeting of its executive board via conference call, referring the allegations to its independent ethics commission.
The Sunday Times earlier provided evidence alleging that officials had been selling thousands of tickets illegally for up to 10 times their face value.
The IOC may now also review the Olympic ticket distribution scheme.
“The International Olympic Committee has moved quickly to deal with allegations that some National Olympic Committees (NOC) and Authorized Ticket Resellers (ATR) have broken rules relating to the sale of Olympic tickets,” the IOC said.
“The IOC takes these allegations very seriously and has immediately taken the first steps to investigate. Should any irregularities be proven, the organisation will deal with those involved in an appropriate manner,” it said in a statement.
Ukrainian National Olympic Committee Secretary General Volodymyr Gerashchenko resigned in May after a BBC reporter filmed him illegally selling London 2012 tickets.
According to the BBC, National Olympic committees have to ensure that their tickets are only sold within their own region.