Towers of Secrecy

Number 27335
Subject Real Estate
Source New York Times
State
Year 2015
Publication Date Feb. 8-12, 2015; Nov. 8 and Dec. 15, 2015; March 11, 2015; July 21, 2015; Sept. 22, 2015; Jan. 13, 2015
Summary Secret buyers, many of them foreign and superrich, are using shell companies to cloak their purchases of expensive U.S. real estate, allowing them to flout building codes and local laws, defraud people of their homes and shield huge cash purchases, raising questions of whether they are seeking to hide suspiciously obtained money.
Category IRE Contest Entry
Pages
Keywords Real estate; shell companies; business; fraud; financial investigations
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