Bishkek:Police in Bishkek have detained the CEO of a limited liability company on suspicion of fraud related to shared-equity housing construction projects. The CEO, identified as E.N., is accused of deceiving a complainant into paying a significant sum for an apartment that was never delivered.

According to 24.kg News Agency, a man identified as A.K. lodged a complaint with the Internal Affairs Department of Oktyabrsky district. He claimed that between April 2021 and May 2025, E.N. gained his trust and promised him a two-room apartment in a building under construction in the capital. A.K. alleged that he paid E.N. 2,924,986 soms for the apartment, but was later instructed to transfer his agreement to a different construction company. Despite this, the apartment has not been provided and the financial loss remains unreimbursed.

A criminal case has been initiated under Article 209 of the Criminal Code of the Kyrgyz Republic, which pertains to fraud. In response to the complaint, police conducted operational and investigative measures, leading to the identification and detention of E.N., who is 39 years old. He was brought to the investigative service and placed in a temporary detention facility following a court order for his custody.

Authorities are urging the public to exercise caution when entering shared-equity construction agreements, advising citizens to thoroughly check the developers' documents and verify the legality of their operations.