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Anchored by Jake Tapper, The Lead airs at 4 p.m. ET on CNN.

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January 27th, 2014
05:16 PM ET

Sochi gearing up to be the most corrupt games ever

(CNN) - At an estimated cost of over $50 billion dollars, the Sochi Olympics is already the most expensive games ever. But now it's also being called the most corrupt.

One member of the International Olympic Committee member says a third of that $50 billion has mysteriously been siphoned off.

According to a new report that came out Monday, "A lot of this money seems to have been stored offshore so we don't know exactly know who the end participant is, but the allegations that he makes in this report are just the kind of friends of Vladimir Putin that he's had since childhood, the officials that he's surrounded himself since he's been ruling Russia," says foreign editor for Buzzfeed, Miriam Elder.

The fact that Russia is a corrupt country isn't news at all, "but the International Olympic Committee knew this when it awarded Russia the Olympics in 2007. So they have been kind of quietly sitting back and letting Russia go through the motions, just kind of more concerned that they get the stadiums and infrastructure built," said Elder.

For more of our interview with Buzzfeed's Miriam Elder, check out the video above.

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