Former Salt Lake City Olympic bid executives Tom Salt Lake City yesterday said.
A report of more than 300 pages highlighted by organising committee chairman Robert Garff showed ethical violations and no supporting documentations of payments to International Olympic Committee members and their relatives.
But lawyers for the organising committee said there was no evidence of bribery or other criminal misconduct. Nor was there evidence of paid sex escorts for some IOC members, the report said.
Several key witnesses refused to be interviewed by the panel in the wake of a US Justice Department probe that could produce criminal charges.
No access was available to personal financial data and bank statements by key witnesses.
The report said the trustees were kept in the dark by Welch and Johnson, the panel finding no trustees who knew about the payoff fund by Welch for IOC officials.
"The executive committee paid little attention to specific expenditures so long as the budget balanced," Garff said. "It would have been reasonable for the trustees to establish policy."
Welch and Johnson were forced out of their posts after the scandal broke.
Another key factor, the report found, was that there was no mechanism within the organising committee to allow staff workers to bring concerns about pay-outs to trustees and in some cases people were specifically told by Welch not to contact the trustees.
Welch was also found to be sharing an account with embattled IOC member Jean-Claude Ganga.
Welch and Johnson have maintained their innocence of criminal wrongdoing and said many trustees, including Utah governor Mike Leavitt, were aware of the pay-outs.
While the report says there was no physical evidence trustees authorised any improper payments, there is no way to be certain officials did not close their eyes to problems without bringing the matter to a vote.
Dutch Crown Prince Willem Alexander has suspended his involvement with the IOC. Willem Alexander, elected to the IOC during last year's Winter Olympics, had faced domestic pressure to withdraw from the organisation after it became mired in a bribery scandal. He was due to take up his IOC post in June.