Boris Nemtsov: increased cost of Sochi Olympics is a result of corruption and theft of budget funds

The reasons for the increased cost of Olympic facilities and the rising expenses for the Olympics-2014 are in the corruption and Olympic-scale of fund embezzlement, said Boris Nemtsov, a co-chairman of the Party "RPR-Parnas", who presented in Sochi his report "Winter Olympics in Subtropics".

The press conference, where the report was presented, took place on June 27 in the "Mirit" Hotel in Sochi, the "Caucasian Knot" correspondent reports.

"The Winter Olympics in Sochi is not a result of a collective decision, but, in fact, a personal project of Russian President Putin," said Boris Nemtsov.

The lobbying of Olympic order by commercial organizations owned by oligarchs led to "uncontrolled and unpunished plundering of budget funds, unpreparedness for the Olympics, as well as to destruction of Sochi as a Russian and international resort," said Nemtsov.

He presented his calculations about the appreciation of Olympics-2014 against the initial estimate.

"In summer of 2007 inGuatemala, during a session of the International Olympic Committee (IOC), Putin said that the total cost of the Sochi Olympics would make 12 billion US dollars. As we now know, the expenses have made 50 billion US dollars – more than four times higher than was initially stated."

"The increase of the cost of the Winter Olympics, which we observe in Sochi, is abnormal and can be explained by banal thefts, corruption, embezzlement and complete non-professionalism of performers," said Nemtsov.