In a story more reminiscent of "The Set-Up" than "Million Dollar Baby," the BBC, citing anonymous insiders, has reported that oil-rich Azerbaijan may be relying on more than just its boxers’ muscles to pack a punch at the 2012 Olympics in London. Azerbaijan, the insiders' story goes, allegedly oiled the palm of a boxing organizer with $9 million to secure two gold medals for Azerbaijani boxers at the games. An angry Azerbaijan has countered that the allegations are a pack of lies, the work of unnamed enemies and provocateurs.

The Amateur International Boxing Association (AIBA), the group in the eye of the furor, first claimed that it received an innocuous “investment” from a private Swiss investor, but later admitted that the cash came from Azerbaijan. The group says the transaction had nothing to do with fixing medals and claims that the money came from a private Azerbaijani investor, not the Azerbaijani government.

But the line between private and government realms often can be blurry in corruption-plagued Azerbaijan. The fact that Azerbaijan’s Minister of Emergency Situations Kamaladdin Heydarov, of all people, acted as a mediator between AIBA and the mystery investor only reinforces the point.

The International Olympic Committee is considering launching a probe into the allegations.