The IOC opened an investigation Tuesday into doping allegations against Marion Jones (search), who could eventually be stripped of her five medals from the 2000 Olympics.

International Olympic Committee (search) president Jacques Rogge set up a disciplinary commission to look into the claims made by Victor Conte, head of the California-based lab accused of illegally distributing steroids.

Conte told ABC's "20/20" in a broadcast aired Friday that he gave Jones performance-enhancing drugs before and after the Sydney Olympics. He said he watched Jones injected herself with human growth hormone.

"The allegations made by Mr. Conte are extremely serious and the IOC is fully committed to bringing to light any elements that will help the truth prevail," the IOC said in a statement.

Jones won three gold and two bronze track and field medals in Sydney. She repeatedly has denied ever using banned drugs, and has threatened to sue Conte for defamation.

Rogge advocates a "zero tolerance" policy on doping.

World Anti-Doping Agency (search) chief Dick Pound, a senior IOC member, has said Jones medals should be stripped if Conte is telling the truth. Any decision on the medals would be made by the IOC executive board.

Last week, Rogge said it was too early to speculate about revoking the medals.

"I hope the truth will emerge," he said. "We want the truth. We want to know what happened and the more we know, the better."

Whether the medals can be stripped could depend on an interpretation of the IOC's rule on statute of limitations.

Under the IOC charter, Olympic decisions can be challenged within three years of the games' closing ceremony. The Sydney Olympics ended more than four years ago, on Oct. 1, 2000.

But Pound said that rule may not apply, because there was no actual decision in this case and the allegations are only coming out now.

"We will find a way to deal with that," Pound said. "It's arguable there was no decision taken, just a list of results. So you're not challenging a decision."

Jones, who did not win any medals at the Athens Olympics, has been under investigation for months by the U.S. Anti-Doping Agency, but has not been charged.

USADA has said it will take Conte's allegations into account.

Conte said he worked with Jones from August 2000 to September 2001. He said he designed a doping regimen for her that included the previously undetectable steroid THG, the endurance-enhancing hormone EPO, human growth hormone and insulin.