A Malibu mansion and Gulfstream jet were seized from the playboy son of the president of Equatorial Guinea, who pilfered hundreds of millions of dollars from his starving country. Authorities retrieved $100 million from a bank used by Hezbollah to wash money from drug trafficking. And a foreign not-for-profit is facing charges that it helped Iran evade sanctions by secretly investing in a Manhattan skyscraper.
In each case, American shell companies masked the true identities behind owners of properties, companies and bank accounts used to launder the proceeds of terrorism, fraud and other criminal acts. It is an issue that has taken on added urgency: A growing number of countries are ... read more at: https://therealdeal.com/issues_articles/money-laundering/
... read more at: https://therealdeal.com/issues_articles/money-laundering/