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State Duma of the Russian Federation calls to take out the fraudulent scheme of using escrow accounts

... question concerns the use of escrow accounts, undervaluation of real estate, as well as its sale to the affiliates. Members of the State Duma Committee on Construction and Housing and Public Utilities drew attention to the problem. The MPs called on the Prosecutor General's Office and the Ministry of Construction to develop measures to combat the identified abuse. It lies in the fact that some unscrupulous developers sell apartments to their affiliates at a reduced price using escrow accounts, and take ...

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