Initiator of penthouse project atop Khrushchev-era apartment blocks arrested in Moscow

Initiator of penthouse project atop Khrushchev-era apartment blocks arrested in Moscow
Valery Chernyshev Photo: RBC

The investigation theory is that deputy head of the Chamber of Commerce and Industry Valery Chernyshev raised 100 million rubles ($1.4 million) for construction of apartment blocks slated for destruction.

Author of the project related to adding a storey to Khrushchev-era apartment blocks around Moscow Valery Chernyshev has become a defendant in the swindling case, reports RBC with reference to a judgement by Moscow’s Tverskoy court that decided to arrest the businessman.

In September, this year, Chernyshev got promoted to Deputy head of the Chamber of Commerce and Industry for entrepreneurship in the field of housing and public utilities. He was responsible for reconstruction of multi-apartment residential buildings, including the decades-old five-storey buildings that was meant to be carried out on investors’ and shareholders’ money.

A few months ago, in his interview with Public Television of Russia, Chernyshev described his project as the one that would rescue the five-storey apartment blocks: at the expense of a certain investor, a few storeys were built atop of the apartment block, communication lines were changed, and an elevator appeared. With that, there was no financial participation of the apartment block’s residents.

On Friday, co-founder of a company Management of major construction work Large and former official of the Moscow City Government Maksim Boyko was arrested in the same case.

Both defendants are suspected of swindling, due to the fact that they had been raising money, according to the investigation, for the apartment buildings unsuitable for modernization. The criminal case was initiated in August, this year, following a police report by two Moscow residents, as it follows from the materials announced by judge Minin during the hearings.

The damage, according to these reports, amounts to 12.2 million rubles ($178 thousand). In particular, one of the victims Olga Dudakova made a partnership agreement and bought an apartment on the sixth floor of the five-storey apartment block on Moscow’s 1st Voykovsky driveway for 7.2 million rubles ($105.1 thousand). Another victim Andrey Petrov paid 5 million rubles ($73 thousand) for an apartment on Marshall Rybalko street. They did not receive their apartments by the stipulated date.

Chernyshev was going to reconstruct the total of 27 apartment blocks around Moscow, however, in his words, the urban planning documentation was received only for 5 of them. He states the project The urban renewal of five-storey buildings managed to raise about 100 million rubles ($1.4 million) from the shareholders. About 20 million out of this amount was subsequently returned. Another 42 million was being kept in cash and had never been placed to the company’s operating account. 

The investigators also found 11 million rubles ($160 thousand) in his safe-deposit box. Another 24 million rubles ($350 thousand), in the suspect’s words, were being kept by his relatives and acquaintances: the businessman denied to comment upon what this was for, having referred to the Constitution’s article 51.

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