Paid .7 million for two condos at Trump Tower I and II in Sunny Isles Beach.
The feds will know the real buyers but won’t make the information public.
Experts say the crackdown could be the first in a series of stronger regulations on cash deals. Its financial institutions report more suspicious activity than any other major U. city besides New York City and Los Angeles, according to Fin Cen data.
And a recent case of money laundering involving fancy condos and the violent Spanish drug gang Los Miami drew further scrutiny to South Florida.
In Miami-Dade, the rules apply to homes sold for $1 million or more.
In Manhattan, where real estate is more expensive and where foreign buyers also flock, the threshold is $3 million. Brazilian businessman and media mogul investigated for allegedly getting an insider deal on government land, fixing gasoline prices.
It’s easy to hide in plain sight.” Take Octávio, a dentist’s son who built a fortune developing shopping malls and hotels in Brazil and married the granddaughter of a former Brazilian president before launching his own political career. Several other of Arruda and Octavio's associates were filmed taking alleged bribes, including Leonardo Prudente, a former state representative shown here stuffing his jacket (top right) and socks (bottom right) with cash. Jose Roberto Arruda was arrested a few months later, Octávio replaced him. The newly minted governor didn’t appear in the videos and denied the allegations, but he resigned anyway. The next year, Octávio’s Miami lawyer asked Mossack Fonseca — which has recently been implicated in a bombshell Brazilian corruption scandal — to set up Mateus 5.