Real estate developers to spend two years in colony for deceiving shareholders in Derbent

The founder and the director-general of a construction company that deceived its shareholders were sentenced for two years of imprisonment in an open colony, the press service of the prosecutor’s office informed.

In 2016-2018, the founder and CEO of a construction company with no permission to build houses illegally took more than 7 mln rubles from 8 citizens for the construction of two multi-apartment buildings in Derbent. The fraudsters concluded a cost-sharing agreement with them, AiF Dagestan reports.