Reuters finds Russians paid $98.4 million for Trump-branded Florida condos

confirmed Importance 8/10 ~1 min read 3 sources 4 actors

Reuters investigation revealed at least 63 Russian nationals invested $98.4 million in Trump-branded properties in South Florida, primarily in Sunny Isles Beach. The buyers purchased units at Trump Grande, Trump Towers, and Trump Hollywood, with about one-third of all units owned through LLCs that mask true ownership. Most purchases were all-cash transactions over $1 million each, and owners didn’t declare these assets in Russia, fitting patterns associated with money laundering though no illegality was proven.

Sources & Citations

[1] Russians paid $98.4M for units at Trump-branded South Florida condos · Mar 19, 2017 Tier 2

[2] These Russian Oligarchs Are Making Donald Trump Rich · Nov 21, 2017 Tier 2

[3] Secret Money: How Trump Made Millions Selling Condos To Unknown Buyers · Jan 12, 2018 Tier 2

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Cite this entry

The Cascade Ledger. “Reuters finds Russians paid $98.4 million for Trump-branded Florida condos.” The Capture Cascade Timeline, March 17, 2017. https://capturecascade.org/event/2017-03-17--reuters-russian-buyers-trump-condos/