Money Laundering Feeds Dangerous Housing Market Bubble in Albania
Exit Staff , 20 May 2021
Between €300-700 million in dirty money enters Albania each year, according to an estimate by the Global Initiative Against Transnational Crime Initiative (GIATOC).
In Wednesday’s “In a Few Words” show on Euronews, Neritan Sejami focused on money laundering in the construction sector in Albania. Dirty money entering the country has three main sources: criminal activities, corruption and tax fraud. In the last 3 years, an estimated €1.6 billion was laundered through the construction sector in Albania. Continue reading “Article: Money Laundering Feeds Dangerous Housing Market Bubble in Albania”
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It was tax season 1999. I was a federal economic-crimes prosecutor in Miami, and this was the time of year my colleagues and I brought cases to deter would-be tax cheats. My target was a tax-return preparer operating out of Liberty City’s “Pork & Beans” projects, made famous in the movie Moonlight. This tax preparer had been manufacturing false W-2s and Social Security numbers so that her clients would receive an earned-income tax credit to which they weren’t entitled—amounting to more than $100,000 in bogus refunds. She eventually pleaded guilty and spent nearly three years in prison, which at the time I considered a broadly just result. She had committed a real crime against the United States. 
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