How Foreign Investors Launder Their Money In RE

We have a guy in the white house who understand that very clearly, selling RE to Russians for lots of money, then the property is sold for less. That’s the price to pay for laundering money.

Manafort is in trouble for that, and we may wonder where he learned that trick. Well, his teacher lives in the white house now.

Second, a great many of the foreign investors and associated shell companies are laundering money. The alleged money laundering scheme of Paul Manafort — President Trump’s former campaign chairman who was recently indicted — involved New York real estate. The New York Times spent enormous effort looking into just a handful of high-end Manhattan residential buildings, and found a slew of extremely shady and occasionally illegal foreign investors. Activists leaked a report describing elite American attorneys — including a “recent president of the American Bar Association” — giving advice about how to move shady cash into the country, and one of the prime methods was buying New York real estate.