Wednesday, June 20, 2018

Sverdlovsk Government to sort out deceived private investors problems by new year

Sverdlovsk Region Construction and Infrastructure Development Minister Dmitri Niskovskikh announced this week that it will work to resolve the issue of private investors who lost money on housing schemes by the new year.

Evgeny Kuivashev, the region's governor, and Deputy Chairman of the State Duma Security and Anti-Corruption Committee Alexander Khinshtein visited a construction site in Uktus, where four new apartment buildings are being built, Ural Business Consulting reports.

An examination by the board of experts revealed that the main structures at the site needs to be fortified and that no other work can continue until this task is finished, which will require $60 million. One of the buildings is up for sale, which would help complete construction on another building where the families of 405 deceived investors are looking to have property. More than 200 families have been waiting for more than six years for the buildings to be completed.

Evgeny Kuivashev said that the government is keeping an eye on the projects and will monitor the development of the buildings. He also plans to bring regional prosecution authorities in to assess the legality of the developer's actions, according to Ural Business Consulting.