Chinese Money Laundering Scheme to Buy Real Estate Exposed

by admin on July 24, 2014

China will investigate the Bank of China for providing money laundering services to wealthy nationals for off-shore investments in foreign real estate, reports Breitbart.

The crackdown comes after an undercover 20 minute segment of a bank executive revealing incriminating details was aired by state-owned, China Central Television. The BOC would purportedly“disguise the origin of clients’ money and help them send funds overseas for investment immigration,” according to Breitbart.

Thailand real estate law firm, Chaninat & Leeds, specializes in real estate law with decades of experience assisting foreign nationals in Thailand.

A report from the National Association of Realtors shows that cash purchases from Chinese real estate buyers of off-shore properties have nearly doubled over the past year, and Chinese buyers make up almostone-quarter of all foreign residential purchases in the U.S.

Read the full story here.

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