A condo unit at Porsche Design Tower in Sunny Isles Beach is being seized by federal officials for its alleged involvement in a $1 billion money laundering case. Prosecutors believe that the scheme originated from Venezuela’s state-run oil company, PDVSA, and that the money was funneled into fraudulent investments and Miami real estate. Porsche was allegedly involved in a $5.3 million purchase, selling unit 2205 at Porsche Design which is a 132-unit, 60-story luxury condo tower built by Dezer Development.
Officials are looking to seize the unit and file a notice of lis pendens in the US District Court for Southern Florida. Under this notice, the property becomes impossible to sell until the case is resolved. Renowned white collar defense and money laundering attorney, Andrew Ittleman, said that when the federal government seizes an asset it is usually successful when related to a money laundering case.
Dezer Development made a statement to The Real Deal explaining that the Fair Housing Act and other laws protect them because it “requires us to sell to buyers that have the ability to sign a contract and send a deposit.” The Developer also said that conducting background checks or other actions would be considered as discriminatory. They blame the scheme on ignorance to such backgrounds or involvements which causes buyers to be unsure of who their neighbors really are.
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