Defrauded investors again held

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Photo: Oleg Karsaev / “Kommersant”

The construction of houses for the deceived shareholders can be stopped due to changes in the law on joint construction, complicating the financing of such facilities. It is reported by family-owned Demyan Kudryavtsev, the newspaper “Vedomosti”.

According to the amendments of 1 July, spend the money of shareholders is permitted only on those homes that they’ve bought. In addition, from September 1 on every construction permit the developer will need to have a separate Bank account. In order to avoid misuse of funds the banks will control how the money is spent.

The developers warn that the rate of Bank support will not allow to spend the funds raised from co-investors to complete the construction of problematic projects. Now to complete such objects developers are forced for their own money.

To solve the problem of developers have asked the Commissioner of the Russian President for human entrepreneurs Boris Titov. According to the Ministry of construction, now in Russia there are 880 problematic objects and 34 thousand defrauded investors.

Video, photo All from Russia.

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