The officers of Sverdlovsk Region’s economic crimes division of Ministry of Internal Affairs carried out an investigation resulting in uncovering the criminal activity of Uralstroy-1, the local builder, the spokesperson for Sverdlovsk Region’s division of Ministry of Internal Affairs reports.

According to the existing line of inquiry, Uralstroy-1 signed agreements with both natural persons and legal entities regarding their investment in would-be apartments and offices. Later on, the builder allegedly converted the customers’ property rights over the future estate to some third party by selling the already-sold apartments again.

The case currently features over fifty victims, whose losses are reported to come to several billion rubles.