Karachay-Cherkessian real estate fraudsters make 60 mln rubles

Suspected fraudsters have caused damage worth 60,772,000 rubles at the Ust-Jegutinsk residential area (Karachay-Cherkessia) in a fraud scheme using Vodokanal, RIA Novosti reports.Real estate in the area was sold at an exaggeratedly low price, causing damage equal to the said sum. The police initiated a criminal case for illegal acquisition and waste of funds. The suspected fraudsters involved may get up to 10 years of prison.

Suspected fraudsters have caused damage worth 60,772,000 rubles at the Ust-Jegutinsk residential area (Karachay-Cherkessia) in a fraud scheme using Vodokanal, RIA Novosti reports.

Real estate in the area was sold at an exaggeratedly low price, causing damage equal to the said sum. The police initiated a criminal case for illegal acquisition and waste of funds. The suspected fraudsters involved may get up to 10 years of prison.