Julio Iglesias used shell companies to raise real estate

Singer-songwriter Julio Iglesias (Getty Images, iStock)

Singer-songwriter Julio Iglesias built his South Florida real estate portfolio using shell companies including five properties on the ultra-exclusive island of Indian Creek, homes in nearby Surfside , as well as for a property in Homestead.

Iglesias’ purchase of these properties was revealed in the Pandora Papers, a massive leak of nearly 13 million documents from offshore shell companies obtained by the International Consortium of Investigative Journalists, reported the Miami Herald. Although his ownership of the Indian Creek properties has already been reported, Iglesias’ other real estate acquisitions have not been made public until now.

Iglesias used offshore service provider Trident Trust to set up the offshore shell companies in the British Virgin Islands.

The properties identified in the report are now worth up to $ 120 million, the Herald reported.

Iglesias, an award-winning Latin artist, began assembling land in Indian Creek in 1978. He listed four of the properties in 2017 for $ 150 million, but sold one last year for $ 30 million to a prominent plastic surgeon. Iglesias also sold a 2-acre property in Homestead earlier this year for $ 900,000.

Each of the Iglesias properties identified by the Miami Herald is owned by a different company, which means he and his family likely own more than what has been revealed, according to the Miami Herald.

Iglesias, who has been accused of not paying taxes in his home country, Spain, and his second wife, Miranda Rijnsburger, indicate their residence in the Dominican Republic.

Rijnsburger, a former Dutch model, is listed on a number of real estate registers, and Russell L. King, Iglesias’ real estate attorney, is named in the Pandora Papers 468 times between 2009 and 2015.

King is also linked with the creation of a British Virgin Islands company that was owned by Venezuelan businessman Raúl Gorrín, who was linked to Venezuelan President Nicolás Maduro. Gorrín left Miami, where he had lived in the wealthy Cocoplum community of Coral Gables, in 2017 for Venezuela before the United States announced charges against him in South Florida.

[Miami Herald] – Catherine Kallergis

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