An Olympic ticket scam has cost VANOC approximately $2 million. The scam unraveled when Visa noticed an unusual number of purchases using Latvian credit cards on fan-to-fan ticket sales site.

Around 200 people sold tickets to the scam artists on VANOC's fan marketplace that allowed people to resell their Olympic tickets to the highest bidder.

Vancouver Police arrested three Latvian males in connection with the scam. Arturs Abroskins and Andris Stuks were each given jail time and ordered deported. Charges against another Latvian were stayed.

Those three men may have been the tip of the iceberg.

"We think there were up to 30 Latvians in Metro Vancouver and southern B.C., perhaps part of a bigger ring," VPD Cst. Lindsey Houghton told CTV News.

So who is on the hook for the Vancouver Olympic ticket scam?

"Right now VANOC is out the money and it's a question of whether or not we can recover it from other parties," said VANOC's John McLaughlin.

More than 200 fan-to-fan account holders who sold tickets to the Latvian scam artists have had their payment cheques delayed. According to VANOC, they should get their money soon.

"If they were a seller they have received the money already or will by the end of the week," said VANOC Executive Director Dave Cobb.

With a report from CTV British Columbia's Shannon Paterson