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Category Archives: Real Estate Fraud

Real Estate Fraud

Italian fugitive used Miami firms to set up offshore

By Bruce L. Udolf, P.A. |

When two Miami firms set up an offshore company for Giuseppe Donaldo Nicosia in 2011, they didn’t know the Italian businessman would be accused of masterminding a $48 million tax fraud three years later. Or that one of his alleged partners in the scheme, an Italian senator and ally of former premier Silvio Berlusconi,… Read More »

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Panama Papers: Miami Beach fraudsters hid loot in offshore companies

By Bruce L. Udolf, P.A. |

Among the many questionable customers of Panamanian law firm Mossack Fonseca were a Miami Beach father and son convicted of a $49 million tax fraud in 2011.  Mauricio Cohen Assor, 82, and Leon Cohen-Levy, 51, hid a Miami Beach mansion, a Fisher Island condo, bank accounts, luxury cars and even a helicopter from the… Read More »

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Panama Papers: Secret offshores trace back to Brickell condo featured on ‘Miami Vice’

By Bruce L. Udolf, P.A. |

To set up secret offshore companies, members of Latin America’s elite turn to a condo at a Brickell high-rise once featured on Miami Vice. Olga Santini, the Miami representative for Panama-based law firm Mossack Fonseca, works out of a two-bedroom unit at the Palace, a waterfront tower on Brickell Avenue. Mossack Fonseca specializes in setting… Read More »

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How secret offshore money helps fuel Miami’s luxury real-estate boom

By Bruce L. Udolf, P.A. |

At the end of 2011, a company called Isaias 21 Property paid nearly $3 million — in cash — for an oceanfront Bal Harbour condo.  But it wasn’t clear who really owned the three-bedroom unit at the newly built St. Regis, an ultra-luxury high-rise that pampers residents with 24-hour room service and a private… Read More »

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Investigation Unveils Corrupt Buyers in Miami’s ‘Secret Shell Game’

By Bruce L. Udolf, P.A. |

A look at the eye-opening report from the Miami Herald The Miami Herald, in conjunction with 100 global news partners, published a new series based on 11.5 million secret files leaked from inside Panamanian law firm Mossack Fonseca, exposing the “Secret Shell Game” in South Florida’s luxury real-estate world.The year-long investigation exposed many of… Read More »

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