MOSCOW: Russia's Investigative Committee on Wednesday launched a probe into the alleged embezzlement of 20 million rubles ($273,000) from the budget of the national basketball federation.
Investigators said in a statement that the funds were allegedly embezzled through fictitious contracts with private entrepreneurs between February 2014 and August 2015.
"The audit of the Russian Basketball Federation's financial and economic activity after the change of leadership is the reason for instituting criminal proceedings," the Moscow branch of the Investigative Committee said.
Former NBA star Andrei Kirilenko was elected president of Russia's troubled basketball federation in August after the organisation was suspended by the FIBA, the sport's international governing body.
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