A fraudster claiming to be acting on behalf of Olympic Park contractor Skanska, used a false name, Anthony Webb, and wrote to the ODA requesting they pay due monies into a new account, claiming their old bank details had changed.

The ODA, who are the public body responsible for the construction of venues for this summer's London 2012 Olympic Games, subsequently sent the money in May 2010.

Eight people have appeared in Southwark Crown Court facing charges of money laundering, having apparently filtered the cash through a variety of accounts to cover up their crime.

The defendants, also accused of laundering £86,645 ($136,849/€103,362) from Universal Builders Supply, deny the charges.

The prosecutor, James Dawes, said that they had also intended to steal money owing to Network Rail and Dorset County Council among others.

"Although the plan was to steal £6 million ($9.5 million/€7 million), they in fact only stole about £2.4 million ($3.8 million/€2.9 million) because some of the companies, the authority and the council became alert to the fraud at a reasonably early stage," said Dawes.

"They were able to claw back some of the money."

The eight were brought to court as part of Operation Podium, the Metropolitan Police's response to serious and organised crime associated with this summer's Games.

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