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(1/3) As the following report demonstrates, even the Boston real estate market is vulnerable to money laundering. Foreign kleptocrats from Russia, China, and elsewhere continue to park their illicit wealth in the U.S. property market behind anonymous business entities.
(2/3) Beyond facilitating crime and corruption, this flood of dirty money drives up housing prices for my constituents — pricing an entire generation of prospective home owners out of Boston’s housing market.
(3/3) This is why I am a strong advocate for beneficial ownership reporting to crack down on anonymous shell companies.https://inequality.org/great-divide/toweringexcess/ …
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