The case of the developer in Kabardino-Balkaria has reminded about the problem of unfinished constructions.

A criminal case has been initiated in Kabardino-Balkaria against a developer suspected of large-scale fraud with the funds of shareholders during the construction of houses in the village of Shalushka. Members of the housing cooperative claim that the pace of construction has slowed due to the debts of the shareholders.

As reported by "Caucasian Knot", in 2024, a pre-investigation check was initiated regarding the activities of the developer "KerefStroy", which illegally attracted the funds of shareholders and failed to fulfill its obligations to them for the construction of houses in Shalushka.

The Investigative Committee of Kabardino-Balkaria announced the initiation of a criminal case against the developer suspected of large-scale fraud.

According to the investigation, in July 2021, the victim entered into a shared participation agreement with an individual entrepreneur who undertook the obligation to construct a multi-apartment residential building in the village of Shalushka. The suspect received 1.35 million rubles from the buyer but did not allocate them for construction, instead spending them on other purposes.

At the same time, the multi-apartment residential building has not yet been put into operation. The developer has been charged with fraud committed on a particularly large scale. The article provides for up to ten years of imprisonment with a fine of up to one million rubles.

Members of the board of the housing cooperative "Shalushka", in turn, stated that to date, "honest shareholders are effectively building apartments for themselves and for the debtors." Their position was published by the newspaper "Gazeta Yuga".

In the village of Shalushka on Lenin Street, the housing cooperative is constructing two multi-apartment buildings - "Generation" and "Megapolis" under a contract with the developer. The overall readiness of the facilities is 52%. The cooperative has no bank loans or budget financing. The houses are being built solely on the contributions of shareholders, the board members claim.

At the same time, about 80% of the shareholders took apartments on installment plans for 5-10 years or more, many without a down payment. About 20% made full payment upfront. Today, the debt of shareholders to the cooperative amounts to 462 million rubles, of which 312 million are already overdue. More than two-thirds of the debt has not been paid on time.

"While some shareholders do not pay, the pace slows down for everyone - including those who have already fulfilled their part of the agreement. Claims against debtors continue: the cooperative sends demands, reminds them of the debt, and offers to resolve the issue before going to court," - the statement from the cooperative members is quoted.

It is emphasized that a separate problem is the maternity capital. Some shareholders were supposed to close their contributions with maternity capital after the house was completed for a total of 130 million rubles. These funds have already been spent on other purposes, which the cooperative was not informed about. The apartments are listed as paid, but there is no money for construction.

"It turns out to be a paradox. A person does not pay a single ruble on the installment plan for years, and then complains that the house is being built slowly. But the house is being built exactly with the money that people bring," - the statement from the cooperative says.

According to the board members, they have repeatedly appealed to the head of the region, Kazbek Kokov, requesting a personal meeting. The appeals have been sent for consideration to the Ministry of Construction and the administration of the Cherepovets district. They have not yet been invited for a personal meeting.