Colangelo acknowledged using one of the Twitter handles reported by The Ringer, @phila1234567, but never tweeted from that account.
Colangelo denied using the other four accounts mentioned in the Ringer article last week.
The Sixers retained the service of Paul/Weiss to investigate the accounts linked to Colangelo and also probed whether Colangelo's wife Barbara could be involved. The team ultimately hired NY law firm Paul/Weiss to investigate the matter, leading to Thursday's news.
The Bryan Colangelo burner account scandal appears to have taken yet another weird twist.
"It is clear Bryan's relationship with our team and his ability to lead the 76ers moving forward has been compromised", Harris said. "Our investigation revealed substantial evidence that Mr. Colangelo was the source of sensitive, non-public, club-related information contained in certain posts to the Twitter accounts".
Colangelo has discussed with management the possibility that his wife may have owned the accounts in question, league sources told ESPN.
According to NBC Sports Philadelphia's John Clark, the team believes Colangelo had no knowledge of the multiple burner accounts allegedly connected to him. We believe that Mr. Colangelo was careless and in some instances reckless in failing to properly safeguard sensitive, non-public, club-related information in communications with individuals outside the 76ers organization.
Bryan Colangelo worked for his father for 13 seasons with the Phoenix Suns before becoming the Toronto Raptors' president and general manager in February 2006.
Another account accused Embiid of "playing like a toddler having tantrums", and one criticized Fultz for his work with his "so called mentor/father figure".