After 24 years of running an illegal escort service, mother-son crime duo Margareta von Lambert and Christopher Jelavic have been busted for using von Lambert’s real estate and art businesses to launder their profits. Von Lambert, 70, and Jelavic, 48, … Continue reading
Treasury Secretary Janet Yellen said the new reporting rules will “close critical loopholes in the U.S. financial system” that had allowed criminals to launder money through all-cash residential real estate transactions. Continue reading
Wealth manager Michael Conticelli writes that agents must understand ownership rights to ensure they are using correct documentation and contracts for legal compliance. Continue reading
Real estate professionals who handle closings and settlements will be required to report information to the Treasury’s Financial Crimes Enforcement Network when an all-cash residential sale is made to shell companies, legal entities and trusts. Continue reading
Daniela Rendon was sentenced on Thursday after having misused hundreds of thousands of dollars in pandemic relief funds for her own personal luxury purchases, claiming that at the time “everybody” was doing it, according to reports. Continue reading
The U.S. Treasury Department is poised to enact expanded reporting measures on luxury home sales, putting an end to anonymous purchases that have enabled oligarchs, terrorists and others. Continue reading
Uncle Sam is getting serious about illicit money laundering, especially as it applies to real estate. Here’s what the Fed and four other regulatory agencies are doing to take action against financial crimes that affect our industry every day. Continue reading
The U.S. Treasury Department is expanding previous regulations to more U.S. counties and lowering the sales price threshold for reporting. Continue reading