USD2.7 BILLION IN SAO PAOLO PROPERTY LINKED TO OFFSHORE FIRMS
April 1st, 2017
A Transparency International (TI) investigation has found 3,452 properties in São Paulo, Brazil, worth at least USD2.7 billion are linked to 236 companies registered offshore, raising red flags about the use of real estate for money laundering in Brazil’s largest city.
The new report, ‘São Paulo: Does corruption live next door?’ found 87% of these 236 companies are registered in just five territories: the British Virgin Islands, Panama, Switzerland, the state of Delaware in the United States and Uruguay. Significantly, TI said it was impossible to ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.