Multi-million dollar homes and condos in America’s luxury real estate markets are being sold to super-rich foreigners with shady pasts who don’t want to reveal their identities.
After a year of investigation by 13 people, the New York Times has reported on 200 limited-liability corporations and trusts buying property on behalf of foreign investors. One was “a former Russian Senator barred from entering Canada because of suspected connections to organized crime.” Another was a Greek businessman arrested a year ago for corruption in Greece.
We’ll hear how US law allows them to invest in secrecy. Louise Story co-wrote a series of stories for the New York Times.