Deceptive Activities at Holiday Resort: Guests Caught in Fraudulent Practices

Deceptive Activities at Holiday Resort: Guests Caught in Fraudulent Practices

In the Russian resort town of Kislovodsk, authorities are gunning for a grandiose residential building, estimated to be worth a whopping 1.5 billion rubles, and they ain't backing down. The Prosecutor General’s Office alleges that this high-value property was constructed through dubious means on land owned by the Presidential Administration’s Management Department (UDP), with a sanatorium providing a shady cover for the employees who ultimately got jack diddly-squat.

At the heart of the anti-corruption lawsuit are the ex-head honcho of the "Krasnye Kamni" sanatorium, Sergei Makarov, the Moscow-based LLC "Center for Asset Management" (CAM), and its mastermind, Magomed Kaitov. Rumor has it that Mr. Kaitov has a lengthy rap sheet, with multiple brushes with the law. According to the charges, Makarov, sans permission or approval from UDP, greenlighted the construction of a swanky nine-story building on a plot owned by the sanatorium. But that don't stop the scheme right there – Makarov, doing his best Kissinger impression, secretly negotiated the employees' share of the apartments down to a measly 2%, netting a laughable compensation of 4.72 million rubles.

The exposed scam left Kaitov's crew as the sole developers of the luxe real estate, pocketing all the housing while the state found naught but empty pockets and lost its chance to profit from the billion-dollar property deal. As if that’s not enough to raise eyebrows, valuations reveal the market worth of the swindled stake was almost 70 million rubles in 2010, skyrocketing to 142.5 million rubles by 2022. The entire structure today is estimated to be worth a colossal 1.5 billion rubles!

"By hook or by crook," disaster struck for Makarov, with the state institution completely losing its participation in the investment project and claims to the property. Adding insult to injury, Makarov dared to repeatedly request UDP for the land under the building for rent, then for ownership, but the request was – yep, you guessed it – denied.

In 2010, the building was up and running, with buddies-in-crime of Makarov and Kaitov scoring ownership of 26 out of 86 apartments. Some of the lucky tenants included folks from energy companies, shady business associates, and relatives of the respondents, including none other than the nephew of the infamous Kaitov himself. In a bold move, the decision to put the building into operation was canceled a few years later, at the request of the prosecutor's office. Legal disputes over the contested building, already connected to utilities and partially inhabited, are still raging on.

It turns out Makarov caught himself a fall from grace, with a conviction for abuse of power back in 2024. The Kislovodsk City Court sentenced him to three years behind bars, but he walked away scot-free due to expired statute of limitations.

As for the notorious Kaitov, his moniker "the main energy figure of the Caucasus" isn't only self-appointed. Those who follow the power game can't help but blink twice at his name. After all, the man has been charged with grand larceny and organizing a criminal squad—the latter in connection to the theft of a whopping 5 billion rubles post.

These days, Kaitov is reportedly evading capture in Turkey, where he's keeping his nose busy with professional pursuits. The last time the media heard from Mr. Kaitov, he was sentenced to five years in prison for swindling 340 million rubles through questionable transactions. However, thanks to house arrest during the verdict and his alleged heart surgery vacation overseas, he managed to avoid prison time.

It's interesting to note that Kaitov stepped down from his position at MRSK North Caucasus back in 2011, following some harsh criticism of his actions by high-level officials. Back then, Prime Minister Vladimir Putin aptly pointed out the North Caucasus energy system's "significant control" by none other than Mr. Kaitov and his family.

As the legal drama surrounding Makarov, Kaitov, and allegations of corruption continues to unfold, the Cheryomushkinsky Court of Moscow will be the final judge of their fate.

1. The controversy surrounding the luxurious real estate in Kislovodsk has extended into the realm of politics, with allegations of corruption involving high-ranking officials such as the ex-head of the "Krasnye Kamni" sanatorium, Sergei Makarov, and Magomed Kaitov, who is known for his questionable dealings in the finance and energy sectors.
2. Amidst the ongoing dispute, investigators are scrutinizing the role of investing in the construction of the controversial building, particularly the dealings of Moscow-based LLC "Center for Asset Management" (CAM) and its mastermind, Magomed Kaitov, who is suspected of organizing criminal activities and grand larceny.
3. As the legal battle between the authorities and the accused continues, the case has also highlighted the potential risks in the real-estate market, especially when it comes to questionable land acquisitions, shady negotiations, and the involvement of crime-and-justice figures in high-value property deals – issues that raise concerns for both general-news readers and investigators alike.

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