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Fraud case launched over 2014 Olympics

Aug. 9, 2012 at 5:12 PM   |   Comments

MOSCOW, Aug. 9 (UPI) -- An investigation into alleged fraud over Russia's 2014 Winter Olympics finances has been completed and will be going to trial, officials said Thursday.

The investigation involved the alleged embezzlement of public funds for construction of an Olympic bobsleigh run, RIA Novosti reported.

Construction firm Mostovik allegedly attempted to pocket about $80 million by inflating construction costs, the Russian Interior Ministry said.

There are several other cases being investigated of possible fraud and cost hikes, including the misappropriation of more than $176 million from the central stadium project, officials said.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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