Rene Fasel, the International Ice Hockey Federation (IIHF) president, is now under investigation on allegations that he took kickbacks on marketing deals.
Fasel has denied any wrongdoing and "has made himself available to give any necessary explanations", the International Olympic Committee (IOC) said in a statement.
Fasel is a member of the IOC's executive board and had contacted the group's ethics department.
Fred Meredith, the IIHF's legal committee chairman, will commission and investigator to look into charges that Fasel benefited from a deal that saw an IIHF marketing partner make payments to a company run by a Fasel friend.
Fasel has said he has never taken improper commissions or bonuses but had shown "poor judgement" in supporting the friend in his business.
The IIHF recently held its World Championship hockey tournament in Switzerland, with games at rinks in Bern and Zurich.
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