President Putin offers solution to problem of defrauded co-investors

Russia should switch to civilized ways of housing construction, without attracting funds of citizens, Vladimir Putin said. The president has explained that problems of defrauded co-investors are related to unclear regulation in this area.

Earlier, the Prosecutor General's Office of the Russian Federation named those regions of the country where the rights of co-investors are most often violated by local authorities. In particular, in regions such as the Urals, Siberia, and the Far East, more than two hundred unfinished apartment houses have been recorded. All of them are being built at the expense of citizens but have not been commissioned on schedule. In this context, the most problematic areas are the regions of Novosibirsk, Omsk, and Tomsk.

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