Criminal proceedings were instituted in the investigation unit of the GA for Investigation of the MIA of Russia GA for the Krasnodar Territory against a 66-year-old resident of Rostov-on-Don on the grounds of crimes stipulated by part 4 of Article 159 of the Criminal Code of the Russian Federation “Fraud”.

According to the investigation, the defendant, being the head of a construction company, attracted funds of more than 140 residents of the Krasnodar Territory and other regions of Russia under the guise of participation in the shared construction of residential buildings in Sochi. The offender did not complete the construction of 4 multi-apartment buildings by the time specified in the contracts. For several years, the man postponed the commissioning of high-rise buildings, but did not fulfill his obligations. The total damage to the victims exceeded 369 million rubles.

The criminal case with the approved indictment has been submitted to court for consideration on the merits. Given the evidence collected by the investigation, the Tsentralny District Court of Sochi found the defendant guilty of the alleged crime and sentenced him to seven years in prison with serving the sentence in a general regime penal colony. Currently, the verdict has not entered into legal force.