IOC Member: Corruption Took 1/3 of Sochi Spending

Senior International Olympic Committee member Gian Franco Kasper told Swiss journalists that one-third of the spending on the upcoming winter Olympics in Sochi has disappeared because of corruption. He said contracts were given to a "construction mafia" of businessmen closely linked to the Kremlin and President Vladimir Putin. "The contracts were given to people who already had a foot in the door. We know it," Kasper said in an interview. The games are estimated to cost a record $51 billion in sports and infrastructure projects. Boris Nemtsov, a former Russian deputy prime minister-turned-Kremlin critic, alleged in a report released in May 2013 that up to $30 billion has been stolen in the run-up to the games.

http://sports.yahoo.com/news/ioc-member-corruption-took-1-184554351--oly.html