Welch is a wealthy Salt Lake businessman, who was appointed by Utah's former governor to bring the Olympic games to Salt Lake City.
Now, it's an open secret that International Olympic Committee members have long voted for the city that gives them the most persuasive gifts, and Welch won the games for his hometown by heaping items of great value upon key IOC members.
Is Welch a scapegoat?
He talked to CBS News "60 Minutes" Correspondent Mike Wallace about what he did and why he did it. And how for him it's been a long fall from that moment seven years ago when Utah's Governor Mike Leavitt celebrated the announcement that Salt Lake had won the games.
Welch said Leavitt is a liar for denying he knew Welch was providing expensive gifts and favors to IOC members. Leavitt denies having known of any bidding improprieties.