12/11/2012 12:03 EST | Updated 02/10/2013 05:12 EST

3 companies fined more than $100,000 in total for illegal ticket sales at London Games

LONDON - A British court has fined three companies a total of 70,000 pounds ($113,000) for selling tickets for the London Olympics at "hugely inflated prices."

Sportsworld Group Ltd. was found guilty Tuesday of selling tickets in breach of Olympic legislation and fined 50,000 pounds ($80,000). Imperial Corporate Events Limited and Events International pleaded guilty in September and were fined 10,000 pounds ($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 420,000 pounds ($677,000) was made from the sale of the 74 tickets.