A South Florida real-estate investor made a killing on a tiny Miami Beach condo he owned for just three months. The listed owner of the offshore that bought the unit turned up in the massive leak of documents known as the Panama Papers.
TotalBank filed a lawsuit against U.S. Century Bank and Luis de la Aguilera, former CEO of TotalBank and current president and CEO of U.S. Century, claiming that the parties are “deliberately” disrupting the business of TotalBank by poaching TotalBank employees and misappropriating confidential information.
Panama Papers: A tiny Miami Beach condo sold for $162,000 in January — now it’s set to flip for $258,000. The unit’s inflated sales price seems suspicious, experts say.
Panama Papers reveal how a fast-living, fascist-loving Italian fugitive was able to sell apartments through a network of shell companies set up by two Miami firms.
People accused of corruption are setting up offshore companies and funneling cash into Miami condos and mansions, according to a massive leak of secret documents called the “Panama Papers.” That’s raising fears of money laundering in luxury South Florida real estate.
Editor’s Note: Mossack Fonseca responded to questions from the Miami Herald and the International Consortium of Investigative Journalists with the following statement, which did not address any of the specific due-diligence failings uncovered by reporters.
Twenty-six banks in Miami-Dade and Broward counties earned the highest possible rating of fives stars from Bauer Financial for the fourth quarter of 2015.
Attorneys for Steven D. Hayworth, founder and former CEO of Gibraltar Private Bank & Trust Company, filed a lawsuit against the bank late Friday in a Miami federal court, alleging fraud and breach of contract damages of $40 million.
Brickell Bank has agreed to pay $1 million to settle charges that it violated federal anti-money laundering rules, according to the U.S. Securities and Exchange Commission.
Nobody sees the split in South Florida’s economy more clearly than Jose Goyanes, a businessman who owns two stores next door to each other in downtown Miami.
U.S. Century Bank reported a $5.8 million loss in 2015, a year that saw the Doral-based bank receive $65 million in a recapitalization deal and recruit a new chief executive.
BankUnited beat analyst expectations for the fourth quarter of 2015 a few days after announcing it would stop making residential mortgage loans for consumers.
