3/17/2023 0 Comments Dmg wealth town![]() It’s a classic move - corrupt officials, criminals and even terrorists “wash” ill-gotten wealth by buying apartments in cash, so the purchase will be subject to little scrutiny, or with bearer shares, unregistered stock certificates that were only restricted in Panama in 2013. And in the 2000s, it also became known in the criminal underworld as a fantastic place to launder money through luxury condos. ![]() Panama is known for its canal, its watersports and its biodiversity. ![]() Below, an inside look into how it was conducted and what its findings suggest. Global Witness’ year-long investigation revealed how members of drug cartels and the Russian mafia used real estate in the building to launder money. And, according to a new report from TED Prize winner Charmian Gooch and her colleagues at Global Witness, this particular building, known as the Trump Ocean Club, is a textbook example of how money gleaned through crime and corruption can enter global markets through what look like legitimate deals. It also marked the Trump Organization’s first international licensing venture. Shaped like a sail, it was the tallest building in Latin America when it opened in 2011. ![]() The glittering 72-story tower on Panama City’s oceanfront is a standout. Wikipedia An inside look at the intense year-long investigation into the shady sales of the Trump Ocean Club high-rise in Panama
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