MOSCOW, July 15 (Xinhua) -- Russian Interior Ministry is preparing search warrant for the former deputy head of a construction company suspected in funds embezzlement during works on Winter Olympics venues in Sochi, the ministry said Monday.

"The ministry's Investigative Department is preparing to issue federal and international search warrant for Akhmed Bilalov," the ministry's press service said.

Bilalov used to be a deputy director of the Krasnaya Polyana company in charge of construction of skiing sport infrastructure in the Black Sea resort of Sochi, where the Winter Olympics due to take place in February 2014.

According to investigators, Bilalov inflicted damage to the project of over 45 million rubles (1.37 million U.S. dollars).

On Wednesday, the Interior Ministry also plans to questions Akhmed Bilalov's brother Magomed.

Earlier Akhmed Bilalov informed the Russian authorities he would be unable to return home from Britain citing medical conditions.

In 2012 the North Caucasian Resorts' top managers have spent 1.3 times more money on their lavish salaries and foreign trips than for the proper investment activities, investigators said.

In February, during an inspection trip to Sochi, President Vladimir Putin slammed Bilalov for slow pace of building the Winter Olympics venues there and sky-rocketing costs of the construction. Soon afterwards, Bilalov resigned from three top posts he occupied within the Russian Olympic Committee.