18 december 2015

“My compatriots, the cotton farmers, grant me some castles.”

On December 15, 2015, The New York Times published an article about a new generation of “hyper-luxury homes” on the hillside of Los Angeles. While in terms of square footage, the housing prices in Los Angeles are quite low compared to other areas, the city also has another important advantage: Buyers do not have to worry about being vetted by co-op or condominium boards.

More often than not, the people behind the purchases are hidden by shell companies. A search for who is behind shell companies also turned up owners from a diverse collection of countries, including some involved in current or past law enforcement inquiries.

In this connection, the article also names the daughter of the Uzbek President Lola Karimova-Tillyaeva who herself owns alone four multimillion-dollar castles in L.A. The author referred to the corruption investigations the Karimov family faces in several countries.


See the full article here:

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