In Moscow, fraudsters took away more than 100 apartments using a scheme with loans secured by real estate
In Moscow, fraudsters have taken more than 100 apartments from citizens, including pensioners.
The fraudsters convinced clients to take out microloans using their apartments as collateral.
The loans were issued on extremely unfavorable terms, RIA Novosti writes.
When borrowers were unable to repay their debts, the fraudsters took their property away from them through the courts and put it up for auction.
In Moscow, security forces opened a criminal case for the illegal entrepreneurial activity of fraudsters.
From November 2018 to October 2021, criminals used real estate-secured loan schemes to steal more than 100 apartments from citizens.
The loans were processed at the office of one of the capital's microfinance organizations.
Loan agreements were signed on behalf of certain private investors under a commission agreement.
The police opened a criminal case under Article 171 of the Criminal Code of the Russian Federation.
Private investors were not allowed to issue loans under the Consumer Credit Act.
As a result of the story with enslaving microloans secured by real estate, more than 100 citizens lost their living space.
