Court fines 3 companies for Olympics ticket scam

Economy December 11, 2012

Court fines 3 companies for Olympics ticket scam

Photo: AP The Olympic rings light up the stadium during the Opening Ceremony at the 2012 Summer Olympics in London.

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LONDON (AP) — A British court has fined three companies a total of 70,000 pounds ($113,000) for selling tickets for the London Olympics at "hugely inflated prices."

Sportsworld Group Ltd. was found guilty Tuesday of selling tickets in breach of Olympic legislation and fined 50,000 pounds ($80,000). Imperial Corporate Events Limited and Events International pleaded guilty in September and were fined 10,000 pounds ($16,000) each.

Detective Superintendent Nick Downing, who led the Metropolitan Police investigation, says "these companies exploited the public enthusiasm for the games." The investigation focused on 74 tickets that were sold by Sportsworld, an authorized seller, to Corporate Events Limited and Events International in the full knowledge they would be illegally resold. Some 420,000 pounds ($677,000) was made from the sale of the 74 tickets.

Subjects
Locations
- London,
- Western Europe,
- Europe,
- England

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