Alexander Dolgin stole 31 billion rubles from co-investors

The cost of completion of the objects of the bankrupt Urban Group will be at least 55 billion rubles. At the same time, the auditors found that the former owner of the development company, Alexander Dolgin and his henchmen, stole more than 31 billion rubles from the equity holders.
30.08.2018
Origin source
Completion of the construction of 68 residential buildings, launched by the Urban Group, will require an investment of 67.6 billion rubles. Of these, only about 12 billion rubles will be repaid. At the same time, more than 20 billion rubles received by the developer from the equity holders were previously transferred to the accounts of the affiliates affiliated with the developer and management of the Urban Group.

To complete the construction of Urban Group facilities will require 67.6 billion rubles. Such data on the results of the audit of financial and economic activities were made by the specialists of Ernst & Young and NEO Center, the conclusions of which are given in the message of the Fund for the Protection of Co-investors. Due to the sale of unsold property, apartments in houses, car places and commercial premises, 11.9 billion rubles will be earned in the future. Thus, the shortage of funds for the completion of Urban Group projects will amount to 55.7 billion rubles., The auditors have calculated.

According to the audit results, at the end of last year the developer was insolvent, and his financial situation was unsatisfactory. The auditors found the use of money from co-investors in the construction of residential buildings unattractive. The cost of Urban Group works, according to their data, was overestimated by an average of 63%, in the case of brickwork of external walls, the excess of the market price was 155%. Building materials were purchased from affiliated companies with the beneficiaries.

The 31.1 billion rubles received from the equity holders were transferred as a loan to the controlled little-known individuals of LLC "Proficonsult", auditors Ernst & Young and "NEO Center" come to the conclusion. In the future, 19.2 billion rubles. of this money were transferred as loans to affiliated companies of the Urban Group, 3.1 billion rubles. transferred to non-group companies, and 2.3 billion rubles. got physical persons related to the management of the developer. The developers also sent 0.44 billion rubles. for potentially fictitious services to structures associated with the management of the Urban Group.

The Urban Group has been working since 2003. Its main beneficiary is Alexander Dolgin. The company was one of the largest developers of the Moscow region, but in the spring of 2018 faced financial difficulties. In April, Rosreestr refused to register the share participation agreements (DDU) in the projects of the Urban Group. The reason was the lack of information from the agency about the payment of contributions to the fund by the company (there developers deduct 1.2% of the value of each DDU). In early July, the Moscow Arbitration Court declared bankrupt the Urban Group controlled LLC "Your City", LLC "Highgate", LLC "Ivastroy", LLC "Ecoquartal" and JSC "Continent Project". After the collapse of the developer, the total construction of 68 residential buildings was not completed. 51.9 billion rubles were already raised for their erection. for 21 thousand equity contracts. To finish construction while it is planned at the expense of means of federal authorities and the budget of the Moscow area.

Business

Previous Article
Next article