Two found guilty of Olympic money-laundering
The sports ministry said Tuesday that it has spent `55.22 crore so far on the 46 medal prospects for this year's London Olympics.
The amount also includes money spent on four coaches and support staff under Operation Excellence 2012.

The biggest beneficiaries were the gymnasts, who received `89.91 lakh from the funds released so far from the National Sports Development Fund (NSDF).

"For imparting customised training to elite athletes, who are medal prospects in the forthcoming London Olympics and other major international sports events, the Sports Ministry has released financial assistance worth `55.22 crore as on 23.4.2012, from National Sports Development Fund (NSDF) to the 46 sportspersons and 4 Coaches & supporting staff under Operation Excellence 2012," the sports ministry said in a statement.

The assistance is sanctioned towards extensive training abroad, engagement of personal coaches both foreign and Indian, competition exposures abroad, scientific back-up in terms of sports psychologists, physiotherapists, masseurs, and other activities.

Meanwhile in London, two men have been found guilty of money-laundering charges following a 2.3 million pound ($3.7 million) fraud against the Olympic Delivery Authority, the body responsible for developing infrastructure for the 2012 games. An Indian-origin suspect was cleared in the case.

Ayodele Odukoya, 42, and Abayomi Olowo, 48, were found guilty of money-laundering offences by a jury following a seven-week trial at the Southwark Crown Court in London, the Independent reported.

Six other people - Shamsidden Owo, 75, Shakeela Ayub, 28, Nadeem Khan, 38, Mbinty Kargbo, 26, Sanjeev Kumar, 30, and Sakiru Adewale, 58 - were cleared of money-laundering charges.

The group were accused of laundering the cash after fraudsters tricked the Olympic Delivery Authority out of 2.3 million pounds.