Defrauded real estate investors from Nalchik complain to President Putin about inaction of officials

In their video message to Vladimir Putin, activists have claimed that officials representing the authorities do not respond to requests from real estate investors in an unfinished apartment building in Nalchik. The authors of the appeal have requested the Russian President to solve the problem.

The “Caucasian Knot” has reported that the problem of the real estate investors defrauded by developers is relevant for Kabardino-Balkaria. So, in March 2024, the Investigating Department for the Kabardino-Balkarian Republic (KBR) of the Investigating Committee of the Russian Federation (ICRF) reported that real estate investors filed a complaint against the developer, who “more than three years ago” took money from the real estate investors, but did not complete construction and began selling apartments to other people.

The appeal of defrauded real estate investors from Nalchik to President Vladimir Putin was posted on the “Made in KBR” YouTube channel. According to the real estate investors’ version, the developer “cheated everyone and ran away.”

“The number of the defrauded real estate investors include not rich people, a lot of orphans, people with disabilities, pensioners, families with many children. They hope to get keys of these apartments and move here,” said a representative of the real estate investors.