A Chinese company, F.C.I.T., has effectively written off a $19 million investment in A.I.B.A. It has committed an additional $1 million a year for the rights to market and promote A.I.B.A. events for the next 20 years. Wu Di, an executive with F.C.I.T., was recently added to A.I.B.A.’s decision-making executive committee. Two other spots are available for officials from companies who would be willing to commit a minimum $10 million each, according to A.I.B.A.’s regulations.

Virgets, who had been a senior associate athletic director at the United States Naval Academy, acknowledged that Rakhimov’s notoriety presented problems.

“Is this the best person to run A.I.B.A.? Obviously not because they have some level of controversy,” Virgets said. “It would be much better if he wasn’t on that list, and it would be much better if we had someone with his skill-set who could manage this crisis for A.I.B.A. But quite frankly, I haven’t seen that individual who could manage this crisis.”

The Treasury Department’s designation accuses Rakhimov of collaborating with the Thieves-in-Law organization on business, arranging meetings and warning it of law enforcement issues. “Rakhimov has been described as having moved from extortion and car theft to becoming one of Uzbekistan’s leading criminals and an important person involved in the heroin trade,” the department said in a statement.

That makes him toxic for businesses and individuals with links to the United States, including those dealing with A.I.B.A. Switzerland’s Vaud Cantonal Bank said it could no longer work with the boxing federation. A.I.B.A. then took its banking operations to Serbia. The I.O.C. did not let Rakhimov, who is based in Dubai, attend the Youth Olympics last month. The British authorities blocked him from attending the 2012 Olympics in London, and he was also denied a visa for the 2008 Games in Beijing.

Rakhimov’s Moscow-based lawyer, Yuri Kuznetsov, has spent years trying to clear his client’s name. He has tried to persuade the authorities in Russia, the United Arab Emirates, Uzbekistan and even Interpol to show the I.O.C. that Rakhimov is no longer a fugitive.

Kuznetsov, during an interview in London last month, conceded that Rakhimov had to deal with unsavory characters after the fall of the Soviet Union, when he made his fortune importing foodstuffs.