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

The State Duma urged to pay attention to fraudulent actions that developers can resort to. The 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 ... ..., and take the rest of the funds in cash. Thus, the sum on the account remains less than it should be, and in a situation of bankruptcy of the developer, equity holders will not receive their money. The deputies propose to establish the mandatory check ...

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