Ballard Spahr to Present on Potential Money Laundering Risks Flowing From Real Estate Deals and Foreign Clients Bringing Funds Into the U.S.

By Peter D. Hardy on November 4, 2021

Posted in Attorney Liability, Beneficial Ownership, Bribery, Corporate Transparency Act, Extraterritorial Application of US Law, Foreign Corrupt Practices Act (FCPA), Geographic Targeting Order (GTO), International Tax Evasion, Real Estate

I am very pleased to be part of two upcoming panels focused on key current risks relating to money laundering and anti-money laundering (“AML”), joined by wonderful and distinguished speakers. I hope that you can join – the discussions should be lively, informative and useful to legal and compliance professionals.

ACAMS: Money Laundering and Real Estate

On November 10, ACAMS, the largest international membership organization for anti-financial crime professionals, will host Criminal Connections: The World of Real Estate and Limited Liability Companies, a two-hour webinar that will jump into the murky waters of real estate as a potential vehicle for money laundering, limited liability companies, and all cash transactions. The panel will assess the potential effects of the new Corporate Transparency Act on the real estate industry, and will discuss many topics on which we repeatedly blog, including beneficial ownership, shell companies, Geographic Targeting Orders, and – of course – real estate.

The panel will be moderated by Dr. William Scott Grob, the AML Director for the Americas for ACAMS who manages the speaker faculty and training of ACAMS certificate programs. Dr. Grob has over 25 years of financial and banking expertise, including at HSBC. Joining us will be Dr. Carlos Barsallo, an attorney in Panama who is the founder and President of the Instituto Gobierno Corporativo-Panamá (IGCP), the Chairman of the Board of Directors of the Panamanian Chapter of Transparency International, and the Former Commissioner President of the National Securities Commission of Panama.

PACDL: Money Laundering and Foreign Corruption Schemes

On November 11, I am happy to be moderating a virtual panel, Anti-Money Laundering Trends: The Use of Domestic Money Laundering Tools to Target Foreign Corruption and U.S. Professionals, for the Pennsylvania Association of Criminal Defense Lawyers’ White Collar Practice Conference. We will focus on recent U.S. prosecutions of foreign corruption schemes – with an emphasis on the use of the money laundering statutes. We also will analyze the related risks that U.S. professionals servicing foreign clients or transactions may face. We previously have blogged repeatedly about potential AML and money laundering issues facing U.S. professionals, who are under increasing scrutiny in light of: evolving international standards for professionals as AML “gate keepers”; global criticisms of the United States as a possible haven for money launderers and tax cheats; and international scandals pointing to legal professionals as the alleged facilitators of laundering and tax evasion by their clients.

I am very lucky to be joined by speakers Shirley U. Emehelu and Jonathan R. Barr. Shirley, a member of Chiesa Shahinian & Giantomasi PC, is the former Chief of the Asset Recovery and Anti-Money Laundering section of the U.S. Attorney’s Office for the District of New Jersey. Jonathan, a partner at BakerHostetler, is a former Assistant U.S. Attorney, Department of Justice Fraud Section Trial Attorney, and Securities and Exchange Commission Senior Counsel.

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