According to a report published by Boris Efimovich Nemtsov, here, the majority of contracts for the 2014 Sochi Olympics went to close friends of Russian President Vladimir Putin.
As much as US $26 billion of the $53 billion spent on the Sochi Olympics disappeared in embezzlement and kickbacks to Putin’s close friends.
This is a scam on a scale that outdoes Nikita Khrushchev’s reckless scheme to plant corn in the Russian Arctic or Leonid Brezhnev’s plans to reverse the tide of rivers in Siberia.
In effect, the Sochi Olympics have highlighted the main flaws of Putin’s system in a nutshell: Lawlessness, corruption, high-handedness, cronyism, incompetence, and irresponsibility.
This lengthy report slams Vladimir Vladimirovich Putin and labels him and his administration as one of the most corrupt administrations in the world.
Russia fail. Putin fail.