The executives have been accused of embezzlement and influencing the selection of athletes onto the national team, according to the Seoul Central District Prosecutors' Office.

South Korean news agency Yonhap claim that five of the 14 indicted are currently in custody.

One of those indicted, with the surname Chung, allegedly received a total of ₩450 million (£272,000/$388,000/€347,000) during an 11-year period from 2004 to 2015.

He has also been accused of taking money from various coaches in order to favour their athletes during the selection process.

Another Board member, identified only by his surname of Lee, has been charged with taking ₩1.3 billion (£786,000/$1.1 million/€1 million).

It is claimed he then siphoned some of his kickbacks to Chung.

Former national swimming coach Noh Min-sang is accused of giving around ₩100 million (£60,000/$86,000/€77,000) between January 2009 and December 2010 to Chung.

As the statute of limitations has ended, Noh has not been indicted in the case.

The coach is most commonly known for his work with Park Tae-hwan, winner of the Olympic 400 metres freestyle gold medal at Beijing 2008.

He recently completed an 18-month ban imposed in 2014 after failing a drug test at that year's Asian Games in Incheon.

It was reported earlier this month that KSF President Lee Ki-heung was set to resign from his role due to the criminal crackdown by South Korean authorities, which began with a raid on the governing body’s headquarters in Seoul on February 17.

The KSF has been suspected of forging various documents, as well as taking funds that were meant to be awarded to athletes to help with their training expenses.

The Ministry of Culture, Sports and Tourism had announced that funding to the KSF had been halted earlier in February.

“Internal regulation and the inspection system failed to perform their roles,” Lee Dong-yoel, who led the corruption investigation into the KSF, said.