The defrauded shareholders were offered to provide credit holidays

Alexander Aksenenko, deputy chairman of the State Duma Committee on Construction and Housing and Communal Services, and Sergei Mironov, head of the Fair Russia — For Truth faction, proposed providing loan holidays to defrauded shareholders. This follows from an appeal to the head of government, Mikhail Mishustin, which is available to Izvestia.

"As of today, more than 3,000 cases of unfair execution of work contracts have been registered, which has led to the massive formation of "unfinished" facilities and, as a result, to the absence of collateral within the time limits set by the loan agreements," the document says.

It mentions that the deputies are particularly concerned that most of the loans were issued with the mandatory condition of concluding a contract with a contractor accredited by the bank, while funds from borrowers' credit accounts were disclosed directly in favor of such contractors.

In conditions when the latter commit fraudulent acts, stop working en masse, and some of them are already involved in criminal cases, borrowers continue to incur obligations to the bank, the appeal says.

It also notes that in this way, citizens are forced to pay mortgages for non-existent housing, while the state continues to subsidize interest rates even on loans for which signs of fraud have already been identified, but the deadline for early repayment has not yet arrived.

In addition, the lack of collateral due to unfinished construction leads to the risk of transferring loans from a preferential interest rate to a market rate, which means a sharp increase in the debt burden on bona fide borrowers.

"Taking into account the above facts and the scale of the identified problems, we ask you to consider the possibility of implementing the following measures: non-increase in interest rates on preferential loans for persons affected by fraud in the field of residential housing;
providing credit holidays for the period of construction of new housing for the above—mentioned category of persons in order to reduce the financial burden on borrowers during the transition period," the deputies address Mishustin.

They added that this situation causes social tension, leads to a deterioration of payment discipline and undermines citizens' trust in the banking system.

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Earlier, on March 12, Krasnoyarsk completed an investigation into the fraud of shareholders for 1 billion rubles. About 800 victims were identified and interrogated in the criminal case. According to the investigation, in the period from 2011 to 2017, the accused concluded equity contracts for housing construction in Krasnoyarsk, Sosnovoborsk and Divnogorsk.