Meduza: Russia’s defrauded apartment investors are fighting for their rights

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According to various estimates, there are somewhere between 40,000 and more than 100,000 “defrauded co-investors” in Russia — people who paid money for new apartments, but were never able to move in because construction on these homes never finished. The problem has persisted for more than a decade, and the thousands of people cheated out of their money have spent that time organizing protests and appealing to state officials, but the government has yet to resolve the situation. Vladimir Putin even issued an executive order giving the country three years to abandon shared-equity construction completely. A year later, however, it still dominates Russia’s residential real estate market. In a special report for Meduza, Pyotr Manyakhin, a correspondent for, learned more about how Russia’s cheated investors are fighting for their rights.

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