What the hell is going on? The Richard Engel report should be the number one news story.

[AntiFascist]

77. K&R, but...

Engel should have pointed out that this is not just a foreign phenomenon. There is plenty of Trump real-estate within the U.S. funded by money laundering schemes:

...

Trump’s partner in Sunny Isles is Dezer Development, which began buying up property in 1995 and now owns twenty-seven acres of oceanfront. According to company president Gil Dezer, his firm handles the due diligence on condo buyers. “We do make sure we know our customer by asking for personal information at the time of signing the contract,” Dezer wrote in an e-mail. “We also make sure that anyone buying with an LLC proves to us that they are the rightful owner of that LLC and we check again at closing to make sure that we are still dealing with the same person at the time of delivering title.”

Offshore entities are an especially bright red flag, but domestic LLCs offer a simple means of obscuring property ownership from tax and law enforcement agencies or an aggrieved business partner or spouse. Peter Zalewski, a consultant to real estate developers, told me that Pekhtin “was either naïve or cheap. If he’d just hired a local attorney, he could have structured things in a way that he never would have been caught.”

https://www.thenation.com/article/miami-where-luxury-real-estate-meets-dirty-money/