IOC CODE OF ETHICS
Rules Concerning Conflicts of Interest Affecting the Behavior of Olympic Parties
A conflict of interest arises when personal and/or material involvement with suppliers of the Olympic party concerned.
Prince Albert breached the IOC's Code of Ethics when he agreed to receive the personal gift of a house from Russia, built from scratch by Russian laborers on his private property, at a time when the Russian city of Sochi was in competition to host the Winter 2014 Olympics.
In the event that a person neglects to declare a situation of a potential conflict of interests, the IOC may refer the case to the Ethics Commission... leading to sanctions.
Clearly, Prince Albert should be investigated and punished for violating the IOC's Code of Ethics.