Putin signed a law on fines for illegally attracting investments from individuals

Changes are being made to the Code of Administrative Offenses of Russia. The law is directed against the operation of financial pyramids.

Fines for the provision of services to attract such investments by persons who do not have the right to do so will range from 5 thousand to 30 thousand rubles for citizens, from 20 thousand to 50 thousand rubles for officials and individual entrepreneurs, from 300 thousand to 500 thousand rubles – for legal entities. There is also an alternative to the fine for legal entities and individual entrepreneurs: suspension of activities for up to 60 days.

The penalty for attracting investments by concluding agreements with people within the framework of a public offer or as a result of offering services to an indefinite number of people will be for citizens from 30 thousand to 50 thousand rubles, for officials and individual entrepreneurs – from 50 thousand to 100 thousand rubles, for legal entities – from 500 thousand to 1 million rubles. The alternative penalty, work stoppage for legal entities and individual entrepreneurs, will be 90 days.

The limitation period for exercising administrative responsibility, according to the modifications, will be one year.

According to one of the sponsors of the bill, Deputy Chairman of the Federation Council Nikolai Zhuravlev, the law is aimed at suppressing the activities of financial pyramids, which have a negative impact on the Russian financial market and cause monetary losses for the population.