Cocaine Condos: How Money Laundering And The Narco Trade Built Modern Miami

In Episode 54, expert Peter Zalewski of Condo Vultures interviews journalist Roben Farzad - author of the book "Hotel Scarface" and host of public radio's Full Disclosure - about how dirty money and cocaine built the Miami economy in the 1980s, and continues to impact today's real estate market.     In Segment 1, Farzad discusses growing up in Miami in the volatile 1980s before heading off to Princeton and Harvard universities for his secondary education. After college, Farzad returned to Miami where he first began his quest to write a nonfiction book about the infamous Mutiny Hotel that served as the playground for Miami's cocaine cowboys. Farzad also discusses how the book led me to give a Ted Talk presentation.    In Segment 2, Farzad provides an overview about how the cocaine trade first began in Miami when South Florida fishermen were banned from working in Bahamian waters. Drug cartels quickly tapped into this pool of struggling Miami fishermen to take advantage of their knowledge of the Florida coast in order to increase the amount of drugs being smuggled into the United States. Farzad goes on to describe some of the escapades that occurred at the Mutiny Hotel during its heyday.       In Segment 3, Farzad provides an overview about money laundering, and how Miami narcos used the technique of cleaning dirty money in order to purchase condos, horses, boats and other luxury toys in South Florida. Farzad also discusses the importance of illicit cash to Miami's economy and provides insight into the changing face of drug smuggling and money laundering going forward.    To send a comment, please email the podcast at [email protected]     Please be sure to patronize our advertising supporters: Condo Vultures® Realty, Condo Vultures® Condo Correction Tours, and CVR Realty.  Click here to subscribe to the Condo Vultures® Distressed Market Intelligent Report.