Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Law
Floating On A Sea Of Funny Money: An Analysis Of Money Laundering Through Miami Real Estate And The Federal Government’S Attempt To Stop It, Gary Mcpherson
Floating On A Sea Of Funny Money: An Analysis Of Money Laundering Through Miami Real Estate And The Federal Government’S Attempt To Stop It, Gary Mcpherson
University of Miami Business Law Review
Miami is experiencing a money laundering controversy the likes of which have not been seen since the “Cocaine Cowboys” era of 1980’s Miami. Condominiums and other mega developments are popping up at an unprecedented pace, immediately after the housing market crash that caused the Great Recession. Adding to this questionable boom in development is the fact that the vast majority of Miami’s population cannot afford to live in places like these. So, the question presented is who is fueling this explosion in development? Criminals, that’s who. Federal agents believe criminals are buying coveted Miami real estate through shell companies to …