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Friday, 3 June 2016

Using real estate to hide funds

Hiding funds in plain sight: NPR’s Planet Money tackles the issue of money laundering and hiding funds generally in real estate. An fancy apartment can be turned into a giant piggy bank or secret vault, Ilya Marritz says. “So let’s say you’re a drug lord or an arms dealer or something like that, all you got to do is set up an offshore company, put your money in that offshore company and then use the company to buy some big-ticket item. And what’s better than luxury real estate?” (Run time 18:27)

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