Featured Real Estate

U.S. imposes sanctions on Syrian businessman with ties to Assad

The United States on Tuesday slapped sanctions on Syrian businessman Samer Foz and his family, who have close ties to President Bashar al-Assad and who Washington said has made millions by developing properties on land seized from those who have fled the Syrian war. The sanctions were being placed on… Read More

Bipartisan Senate Group Backs Wide-Ranging AML Bill

It is one of the most ambitious anti-money laundering (AML) bills presented to the US Congress in years, though its greater distinction may be that it arrives with something harder to come by than ambition on Capitol Hill: bipartisan support from well-placed lawmakers. Four members of the Senate Banking Committee—Sens. Read More

Australia seizes properties from Chinese national with Beijing’s help

The Australian government has confiscated three properties from a Chinese national after a joint money-laundering investigation with China, police said on Saturday. The Melbourne real estate was owned by a 32-year-old Chinese national who had been using an assumed name and had relocated to the Caribbean, the Australian Federal Police… Read More
10th June 2019
Riot police surrounded Hong Kong’s parliament early on Monday after what had been a peaceful million-strong protest against an extradition bill descended into running clashes between police and protesters. Several hundred riot police armed with batons, shields, tear gas guns and pepper spray sealed off the Legislative Council as a… Read More
6th June 2019
By Heather Vogell, ProPublica The owners of a 70-story Panama City hotel tower formerly managed by President Donald Trump’s companies are accusing them of stiffing the Panamanian government. In a legal filing Monday in an ongoing lawsuit in Manhattan federal court, private equity manager Orestes Fintiklis and the company he… Read More
3rd June 2019
Earlier this month, the UK government submitted its response to the latest House of Commons Treasury Select Committee (TSC) report on economic crime, agreeing in many cases to advance parliamentarian recommendations and, in one instance, pushing back on a key proposal. Taken as a whole, the response outlines a path… Read More
31st May 2019
U.S. prosecutors are seeking to sell two luxury condominiums in New York City linked to fugitive financier Low Taek Jho, court documents showed, the latest effort to recover money allegedly stolen from Malaysia’s state fund 1MDB. Low, known as Jho Low, has been charged in Malaysia and the United States… Read More
31st May 2019
The UK National Crime Agency (NCA) has seized three London residential properties under a power granted in 2018 targeting suspicious individuals who can’t explain the origins of their wealth. In a statement Wednesday, the NCA said that the high-end properties had originally been purchased for £80 million by offshore companies… Read More
22nd May 2019
Argentina’s populist ex-president Cristina Fernandez de Kirchner passed through a crowd of ardent supporters and into a Buenos Aires courthouse on Tuesday to undergo a graft trial she derided as a “smokescreen,” days after kicking off her campaign for vice president on social media. Sitting for the first time in… Read More
21st May 2019
British lawmakers issued a report Monday outlining potential loopholes in draft legislation intended to help better identify foreign criminals seeking to launder money in UK property. The 86-page report by members of the UK House of Lords and House of Commons concluded that the current version of the Registration of… Read More
20th May 2019
Deutsche Bank managers blocked the filing of multiple suspicious activity reports (SARs) on transactions involving President Donald Trump, his son-in-law Jared Kushner and offshore parties, The New York Times reported Sunday. In the summer of 2016, the German institution’s transaction monitoring software flagged a series of suspicious payments from Kushner’s real estate… Read More
20th May 2019
British Columbia’s recently announced probe into suspected money laundering has drawn promises of cooperation from federal officials along with new questions for other provinces. On Wednesday, British Columbia (BC) Premier John Horgan announced that his government would conduct a public inquiry into the “extent, growth, evolution and methods of money… Read More
16th May 2019
The US Treasury Department on Wednesday renewed an order requiring title insurers to identify individuals using companies to purchase residential real estate in 12 metropolitan areas. The geographical targeting order (GTO), issued by the Financial Crimes Enforcement Network (FinCEN), applies to purchases of homes valued at $300,000 or more whenever… Read More