YugraInvestStroyProyekt involved in criminal suit

Criminal proceedings have been instituted against the management of ZAO YugraInvestStroyProyekt recently; the company’s top executives are suspected of abusing their authority.

It has been detected that, regardless of failing to meet its contractual obligations (putting up an apartment block in Uray, Khanty-Mansiysk Autonomous Region, with the future apartment owners’ money), the developer in question violated the Russian Federation Urban Planning Code requirements and got an illegitimate permission to have the building commissioned.

As a result, the private investors, who had directed a lot of money to the project, were left with a half-finished apartment block unfit for living instead of proper homes.

This was the reason why the local division of Russia’s prosecution authorities instituted criminal proceedings against the offenders, with charges based on Article 201 (part 1) of the Russian Federation Criminal Code (abuse of power); the code provides for a punishment of up to four years in prison for the offense.

The authorities keep an eye on the investigation of the case and the restoration of the investors’ violated rights.


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