Verification of the bankrupt developer Urban Group has discovered new schemes for withdrawing funds from real estate investors from the company — another 27 billion rubles have been withdrawn through the issuance of loans to affiliated structures. The bankruptcy trustee of the Urban Group, Svetlana Aglinishkene, filed an application with the Arbitration Court of the Moscow Region for the recognition of transactions for the transfer of these funds to be invalid. This is stated on the website of the court. The competition administrator confirmed the submission of the application to the court in her report (“Vedomosti” got acquainted with it).
From the statement of claim published on the website of the court, it follows that in the period 2014-2018. 27 billion rubles were transferred from the settlement accounts of the developer Highgate LLC. to the settlement accounts of two companies - technical customers of the Urban Group: OOO Zakazstroy (transferred 6.3 billion rubles) and LLC Eurasia Project (20.9 billion rubles). Both companies were part of the Urban Group.
They had to send the money received from the developer to the construction of residential buildings in the Highgate LLC projects - the residential complex Opaliha O3 and the residential complex Lesoberezhny. However, instead, “the funds from the accounts of technical customers were sent in the form of loans to another affiliated company of the group, Proffonsalt LLC,” says Aglininškene.
According to the bankruptcy trustee, the funds sent from the developer to technical customers and further in the form of loans to a third party were collected, including through the implementation of equity participation agreements.
Earlier, during the audit of the financial and business activities of the Urban Group, the auditors already recorded the facts of withdrawal of funds from the company to affiliates. This is stated in the audit report published on the website of the Foundation for the Protection of the Rights of Citizens - Participants in Share Building. In addition, according to the audit, estimates for the construction of houses were overestimated by 60%. According to auditors, the owners of Urban Group withdrew from the company 31.1 billion rubles. funds holders through the issuance of loans to affiliated structures. Another 440 million rubles. developer structures sent to pay for "potentially fictitious services." The latter turned out to be individual entrepreneurs, registered by the management and relatives of the management of the Urban Group. Funds holders, as shown by the test, were derived and through the overestimation of estimates for the construction of houses. Selective analysis showed that on average it was 63%, which made it possible to “master” at least 750 million rubles.
In October, the Urban Group bankruptcy trustee filed claims to invalidate other transactions of the developers of the group with the banking structures of PJSC Bank Vozrozhdenie and PJSC Promsvyazbank.
In total, the hole in the Urban Group amounted to 67.6 billion rubles, the auditors calculated.
Earlier, against the former general director of Urban Group, Andrei Puchkov, a criminal case was opened on abuse of authority. He and the main owner of the Urban Group, Alexander Dolgin, are currently abroad, market participants familiar with entrepreneurs told Vedomosti. Representatives of businessmen in Moscow do not comment on the situation. It was not possible to contact Vedomosti with Dolgin - his phone was turned off.
In total, the development companies of the Urban Group (Vash Gorod LLC, Highgate LLC, Ivastroy LLC, Ecoquartal LLC, Continent Project JSC) did not complete the construction of 68 apartment buildings consisting of six residential complexes. In total, the Urban Group raised 51.9 billion rubles. funds holders for 21 000 contracts of participation in shared construction (data from the audit report on the audit of the company). On July 9, 2018, the Arbitration Court of the Moscow Region declared the developers bankrupt. Completion of the facilities is carried out within the framework of the “road map” for the restoration of the rights of real estate investors, approved by the government.