Ivan Vandyshev has been accused of embezzling more than ₽400 million during the Sochi 2014 Winter Olympics ©Getty Images

Businessman Ivan Vandyshev has been extradited from Spain after being accused of embezzling more than RUB400 million ($5.52 million/£4 million/€4.7 million) during the construction of Sochi 2014 venues.

In 2013, Vandyshev's construction company signed a state contract for the construction of sewage treatment facilities in Krasnodar as part of the construction of Olympic facilities for the Sochi Winter Games, according to the investigation.

"Accompanied by officers of the MIA of Russia NCB of Interpol and the FPS of Russia, a citizen of a neighbouring country, Ivan Vandyshev has been extradited from Spain," said Irina Volk, spokesperson for the Russian Interior Ministry.

"He is accused of fraud committed on an especially large scale."

Under the terms of the contract, the company had been transferred RUB1.2 billion ($16.5 million/£12.1 million/€14.3 million) as an advance payment.

Vandyshev allegedly then took approximately RUB400 million ($5.52 million/£4 million/€4.7 million) from the company's turnover and embezzled the money by adding false information about the cost of the equipment.

The Fisht Olympic Stadium acted as the main venue for the controversial Sochi 2014 Winter Olympic Games ©Getty Images
The Fisht Olympic Stadium acted as the main venue for the controversial Sochi 2014 Winter Olympic Games ©Getty Images

Then in 2017, a fraud case was opened against him by the Investigative Committee of the Russian Federation

He subsequently absconded from Russia and was put on the International Criminal Police Organization wanted list.

In February 2020, Vandyshev was arrested in Spain and finally Madrid approved the extradition request made by the Russian Prosecutor General's Office in September 2021.

Yesterday, he was handed over to Russian law enforcement agencies for delivery to Moscow.

Vandyshev is not the first person involved in the Russian Games to be indicted.

The head of the Centre of Sports Preparation (CPS) for Russian national teams, Alexander Kravtsov, was detained last year as part of a criminal embezzlement case.

Kravtsov, who was Russia’s Chef de Mission at the Sochi 2014 Winter Olympic Games, was suspected of employing several people who did not carry out any work into various positions that received a salary.

It is understood the amount paid out came to more than RUB14 million (£140,000/€160,000/$185,000).