Miami Real Estate Plays Central Role in Argentina Scandal

Oct 06, 2017

The Miami real estate market is playing a surprise central role in Argentina’s political environment following reports that former President Cristina Fernández de Kirchner purchased more than 60 Miami properties using dubious funding.

According to a Miami Herald article, Fernández de Kirchner is running for Argentina’s Senate in an Oct. 22 election, but her campaign hit a stumbling block when Laura Alonso, the head of Argentina’s Anti-Corruption Office, went on national television to accuse Fernández de Kirchner of using “dirty money” to buy up residential and commercial Miami real estate.

“We’re working to recover those assets using a strategy of international collaboration,” said Alonso, who described the former president’s alleged real estate holdings “just the tip of the iceberg of all of the money that is likely distributed in the darkest circuits of the international financial system.”

However, Alonso’s office failed to offer evidence to support her accusations, insisting that they could not discuss ongoing investigations. An earlier investigation by the Miami Herald found a link by Fernández de Kirchner to only 16 properties, including a CVS pharmacy in Little Havana, and all of the properties have since been sold.

Fernández de Kirchner’s attorney stated that accusations against his client were politically motivated and that she owns no properties in Miami. “Everything Laura Alonso said lacks seriousness and is also false,” said Attorney Gregorio Dalbón.

Fernández de Kirchner served as president between 2007 and 2015, faces two unrelated indictments for corruption.

About the author

Phil Hall

Link copied

Published

Oct 06, 2017

Analysis and Data

Home Sellers' Q1 Profit Margins Declined Quarterly, Annually

ATTOM reported decrease of 55.3% in the first quarter – the smallest level in more than two years.

ATTOM released its Q1 2024 U.S. Home Sales Report, revealing that profit margins for U.S. home sellers on median-priced single-family home and condo sales in the United States decreased to 55.3% in the first quarter – the smallest level in more than two years. The decline...

Regulation and Compliance

Mortgage Servicers Added To Junk-Fee Naughty List

New release from CFPB lays out areas of improvement, and concern, for mortgage servicers.

The Consumer Financial Protection Bureau (CFPB) today published new supervisory highlights describing the regulator's recent actions to combat junk fees charged by mortgage servicers, as well as other illegal practices. The CFPB has also announced that it is working to addre...