New York Skyscrapers Are Colonies for the Foreign Super Rich

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Multi-million dollar homes and condos in America’s luxury real estate markets are being sold to super-rich foreigners with shady pasts who don’t want to reveal their identities.

After a year of investigation by 13 people, the New York Times has reported on 200 limited-liability corporations and trusts buying property on behalf of foreign investors. One was “a former Russian Senator barred from entering Canada because of suspected connections to organized crime.” Another was a Greek businessman arrested a year ago for corruption in Greece.

We’ll hear how US law allows them to invest in secrecy. Louise Story co-wrote a series of stories for the New York Times.

Credits

Guest:
Louise Story - New York Times - @louisestory

Host:
Warren Olney

Producers:
Evan George, Benjamin Gottlieb, Jenny Hamel