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Top executives for Wounded Warrior Project fired amid allegations of lavish spending

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SAN DIEGO, Calif. - One of the largest and most well-known veterans charities has fired its CEO and COO, according to reports.

According to FOX 5, CEO Steven Nardizzi and COO Al Giordano, both with the Wounded Warrior Project, were fired by the charity's board on Thursday afternoon.

A statement from the nonprofit to NBC News claimed an independent review found "some policies, procedures and controls at WWP have not kept pace with the organization's rapid growth in recent years and are in need of strengthening."

Officials say the organization spent millions of dollars on lavish trips, parties, hotels and administrative costs.

CBS News says spending on conferences and meetings went from $1.7 million in 2010 to $26 million in 2014, the same amount the group spends on combat stress recovery.

CBS claimed that just 60 percent of donations actually went to veterans.

However, the Wounded Warrior Project claims it was closer to 80 percent.