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14 August 2018 10:00by Редакция

It was recently reported that developer Urban Group has gone bankrupt. The company is unable to meet its obligations. The entire burden has fallen on the shoulders of the investor protection fund.

However, investors should not expect assistance from the fund either. The fund simply does not have the 3 billion needed to compensate the defrauded citizens. As a result, they will be left with neither property nor money.

The head of the fund is demanding that contributions from other developers be increased fivefold. This, in turn, could lead to problems and bankruptcy for the remaining companies.

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Urban Group investors left without funds

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