Politicians of Mexican nationality have been identified as the foreigners who most launder money in real estate within the United States (EU), according to a recent Think Tank Global Financial Integrity (GFI) report.
The group of experts that focuses on illicit financial flows, corruption, illicit trade and money laundering, have pointed to Mexican politicians like foreigners in the United States who launder money the most in the northern country.
According to the report “Acres of Money Laundering: Why America’s Real Estate Is a Kleptocrat’s Dream“, that covers from 2015 to 2020, at least 56 cases of money laundering were identified where close to 2.3 billion dollars in real estate were laundered.
The study shows that the money came from at least 26 countries, and 16.7% from Mexico, which means “the main foreign source of illicit funds”; These are resources that were used to acquire homes and commercial spaces. Mexico ranked above Venezuela, Guatemala, Malaysia and Nigeria.
The study showed that the use of shell companies has led to the illicit act, in fact, 82% of the cases indicated in the study evidenced the use of a legal entity to hide the real identity of those who launder money.
What’s more, It was exposed that the anti-money laundering regime in the United States in real estate has important weaknesses, since in that sector, they do not adhere to the prevention of money launderingTherefore, experts in this sector are recommended to inform the authorities of the risks that this practice continues.
Who are they?
The report exemplifies the case of former governor of Veracruz, Javier Duarte, who is presumed to have acquired at least 90 properties in Mexico, Spain and the United States, and for this he used lawyers and business partners to establish a complex network of shell companies.
“His empire included commercial buildings in Florida, a $ 7.6 million Miami mansion bought for cash. and around 30 houses in Miami that were sold and bought several times to hide the origin of the money, ”the report highlights.
Another of those mentioned is José Murat, son of former governor Alejandro Murat (98-2004) of Oaxaca, one of the states with the highest extreme poverty and deficiencies in health services, he was signaled with six properties in New York, Florida and Utah.
The alleged methodology of this politician consisted of hiding the properties “through trusts and shell companies registered in the name of friends and family, including one of Murat’s children, who was a minor at the time of purchase.”
The Mexican politician Thomas Yarrington admitted in March of this year that received more than 3.5 million dollars in bribes he used to buy property in Texas and South Padre Island, United States.
Yarrington, who was governor of Tamaulipas between 1999 and 2005, pleaded guilty to money laundering in a Texas court and faces a sentence of up to 20 years in prison. After leaving office, the politician failed in his attempt to seek the presidential candidacy of the Institutional Revolutionary Party (PRI).
Former Secretary of Public Safety Genaro García Luna also appears with his $ 3.3 million home in Golden Beach.
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