The former director of the site for the 2014 Winter Olympics was arrested Thursday for misappropriating funds, Moscow-based investigators reported Thursday, dpa reported.
Stanislav Khatsevich allegedly abused his authority to use banking contracts intended to modernize the Krasnaya Polyana region in time for the Sochi Games for personal use and "illegal deals," a spokesman for the investigative authority told the Itar-Tass news agency.
According to estimates, the most expensive Olympics ever is approaching a price tag of 40 billion euros (53.3 billion dollars), amid growing worries about corruption, embezzlement and mismanagement.