For those people who are complaining about a pending US Treasury reporting order, targeting cash sales of Miami real estate that exceed $1m, quit your crying, because Miami is a continuing failure when it comes to anti-money laundering compliance, and accepting the proceeds of corruption. There's a reason why Miami has the largest numbers of regulatory fines and disciplinary actions: dirty money, from foreign sources, is drawn to the city, due to its geographical location, and multilingual bankers who tend to trump their own compliance officers' warnings, when it comes to new, albeit dodgy, cash .
In the present case, Sergio Todisco,. a known front man for Néstor Kirschner and Christina Férnandez de Kirschner, made $65m in real estate and business investments, in Florida and New York, though he only earned $2,000 a month, and was a known suspected testaferro, or bagman, for the Kirschners, who he worked for. Oh yes, and he used British Virgin Islands companies to make the purchases.
One wonders if all the bankers, real estate agents, and sellers who were involved in the transactions, which included a $10m condo unit in Sunny Isles, and a $13m unit in Manhattan, lost sleep when the names of the offshore companies surfaced in the Panama Papers ? No matter, none of them will be indicted, if prior money laundering indictments, filed in the Southern District of Florida are any indication. Whatever happened to Willful Blindness, you say ? Ask your Florida Congressman or Senator why the bankers and real estate agents, who knew, or should have known, always evade arrest in Miami.