[ap-intact] INFO: Stream of Foreign Wealth Flows to Elite New York Real Estate

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[Facilitator's note: AP-INTACT shares this information as part of a special series this week on illicit financial flows.]

"Vast sums are flowing unchecked around the world as never before — whether motivated by corruption, tax avoidance or investment strategy, and enabled by an ever-more-borderless economy and a proliferation of ways to move and hide assets. … The Time Warner Center remains the New York archetype of the global phenomenon, reflecting intertwined trends — the increasing sums of foreign money in high-end real estate and the growing use of shell companies."

Read the story by Louise Story and Stephanie Saul, in The New York Times. http://www.nytimes.com/2015/02/08/nyregion/stream-of-foreign-wealth-flows-to-time-warner-condos.html?smid=fb-nytimes&smtyp=cur&bicmp=AD&bicmlukp=WT.mc_id&bicmst=1409232722000&bicmet=1419773522000

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