London: A British court has fined three companies a total of USD 113,000 for selling tickets for the London Olympics at "hugely inflated prices."
Sportsworld Group Ltd. Was found guilty today of selling tickets in breach of Olympic legislation and fined USD 80,000. Imperial Corporate Events Limited and Events International pleaded guilty in September and were fined USD 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 USD 677,000 was made from the sale of the 74 tickets.