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South Lorne

London Estate Agents Money Laundering Overseas 'investors'

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...now we know why London House Prices keep going up... :rolleyes:

Estate agents 'help Russian criminals launder cash by buying mansions worth between £3million and £15million' fuelling London's property bubble
  • Undercover reporters have investigated the super-rich property market
  • Posing as a Russian oligarch, the team ask about how to hide criminality
  • One estate agent advises 'Boris' on finding a lawyer to secure anonymity
  • One proposed deal would have earned the agent £300,000 in commission

...on Channel 4 tonight...

http://www.dailymail.co.uk/news/article-3153060/Estate-agents-help-Russian-criminals-launder-cash-buying-mansions-worth-3million-15million-fuelling-London-s-property-bubble.html

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..trust their association and the police take the appropriate action if the allegations are proven... :rolleyes:

“All agents should know that they have a responsibility to report any potential money laundering activities to the National Crime Agency and failure to do so, or to enable such an action, is a criminal act.

“We take a dim view of members thinking they are above the law."

Edited by South Lorne

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Using the strongest possible words, Mark Hayward, managing director of the NAEA, said: “We do not condone the behaviour of the agents in the documentary From Russia with Cash and it is regretful that a small number of negligent agents tarnish the reputation of the industry as a whole.

Stop laughing at the back...

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..trust there will be a follow up by the authorities after the Channel 4 programme tonight including by the police ...worth

watching the squirming....

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It makes a change from the money laundering banks - or maybe there's a combination of laundered cash and laundered loans involved in the purchases, double whammy laundering.

Edited by billybong

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