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Panama Papers Reveal The Role Shell Companies Play In Miami Real Estate

 The City of Miami skyline is seen on August 6, 2010 in Miami, Florida. (Joe Raedle/Getty Images)
The City of Miami skyline is seen on August 6, 2010 in Miami, Florida. (Joe Raedle/Getty Images)

The massive data leak known as the Panama Papers has shown the role the shadow economy plays in Miami.

According to the documents, a number of foreign nationals linked to bribery, tax evasion or corruption bought up luxury real estate in the city, using shell companies to hide their identities.

The Miami Herald was among the news organizations that obtained the trove of documents from inside the Panamanian law firm, Mossack Fonseca.

Here & Nows Jeremy Hobson speaks with the Herald’s Nicholas Nehamas about why Miami has become a hotbed of shady activity.

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