Tag Archives: real estate corruption

‘It’s a complete black box’: Russian oligarchs pour money into U.S. real estate market

Plaza Hotel In New York

The Plaza Hotel in New York City.Nicolas Economou / NurPhoto via Getty Images file

That’s because there is very little the government can do to find out who owns what real estate in the U.S., which has become a “destination of choice” for money launderers throughout the world, said Louise Shelley, the director of the transnational crime and corruption center at George Mason University, who has been an expert witness about how Russian money is laundered through real estate.

Source: ‘It’s a complete black box’: Russian oligarchs pour money into U.S. real estate market

A Ukrainian Oligarch Bought a Midwestern Factory and Let it Rot. What Was Really Going On? – POLITICO

A photo of downtown Harvard, Illinois, taken on July 11, 2009.

The story of Harvard suggests that lax U.S. laws around shell companies and real-estate purchases, in addition to a broader lack of regulatory oversight, may be putting America’s heartland in the crosshairs of elites like Kolomoisky. It’s a reality of global corruption that U.S. lawmakers are only just starting to grapple with: As money-launderers and illicit financiers hide their money in the American Midwest, they’ve become part of the story of the decline of small-town, blue-collar America.

Source: A Ukrainian Oligarch Bought a Midwestern Factory and Let it Rot. What Was Really Going On? – POLITICO