Saratov city hall searched over case of cheated co-investors

Saratov city hall searched over case of cheated co-investors
Picket of Saratov shared construction participants

Earlier, heads of construction companies were detained. The investigators estimate the damage from fraudulent actions of the company heads at 40 million rubles ($667 thousand).

Law enforcers have come to carry out a search in the Saratov administration over the case of cheated participants of shared construction. Documents of interest to the investigation have been seized from the the Committee for Urban Policy, Architecture and Capital Construction. There have been no reports on detention of officials.

According to Region 64 information agency, yesterday siloviki detained director of Grad-S LLC (Aleksandr Kosenko is listed as company head on the LLC's website) and Head of Fond Zhilishchnogo Stroitelstva LLC ('Housing Construction Fund') Aleksandr Tikhonov. The businessmen are suspected of cheating shared construction participants for 40 million rubles. It is known that Tikhonov is charged under part 4 of Art. 159 of the Russian Criminal Code (Swindling).

In the Saratov region, the problem of cheated co-investors is particularly acute: there are 25 projects in the register of problem houses, 20 out of which are in Saratov, 2 in Engels, and 3 in Balakov. Three thousand families are now without apartments. Almost 2.75 billion rubles ($45.8 million) is needed to complete the construction of all the facilities.

The other day, State Duma Speaker Vyacheslav Volodin arrived in Saratov met with defrauded co-investors. Volodin also called for a more detailed consideration of each long-term construction case by the local authorities and law enforcers.



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