Illustration by Javier Jaén

Kolomoisky is alleged to have bought it, along with hundreds of millions of dollars’ worth of other midwestern properties, as part of a money-laundering operation. According to Michel, who said that Kolomoisky declined to comment on any of the allegations in the book, the oligarch needed to move cash that had been obtained illegally into something “real,” in order to hide its origins (and perhaps use it as collateral for legitimate loans).

Source: Review: ‘American Kleptocracy’ and ‘Kleptopia’ – The Atlantic