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New York Real Estate Loves Dirty Money Print E-mail
by Tom McGregor    Tue, Jul 8, 2014, 03:13 AM

President Barry Obama and New York City Mayor Bill de Bllasio, both Democrats, love to talk about the rising income inequality gap, but that wont stop them from ignoring the swirl of money laundering swooping into New York real estate, forcing local residents to pay sky-high prices for apartments and homes.

According to the Voice of Russia, "The International Consortium of Investigative Journalists published a breakthrough study today that pulls the covers off a disturbing dimension of America’s tolerance for illicit capital flows."

Real estate developers in New York are cashing in big time and they are major donors of the Democrat Party.

As reported by the Voice of Russia, "The volume of illicit capital flows has accelerated rapidly in recent years, to the point that estimates of the total amount of wealth (financial wealth alone, not property) individuals have stashed out of the reach of their home countries’ tax authorities shot from about $11 trillion in 2005 to a range of $21-32 trillion in 2010. A fair chunk of that money, inevitably, is flowing towards real estate."

Former President Bill and former Secretary of State Hillary Clinton live in a mega mansion in a New York City suburb.

To read the entire article from the Voice of Russia, link here:

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