The Real Deal Miami

Dealer who laundered cash through condos to be sentenced

Álvaro López Tardón purchased 13 luxury condominiums in 2011

Spanish drug lord Álvaro López Tardón

This week Álvaro López Tardón will be sentenced for laundering $20 million in cocaine profits through Miami’s luxury condominium and car markets.

In June, López Tardón was found guilty of a single conspiracy charge that carries up to 20 years in prison. He was also convicted on 13 money-laundering charges that carry up to 10 years each, according to the Miami Herald.

In 2011, López Tardón purchased 13 luxury condos, including a $1 million-plus penthouse at the Continuum in South Beach, as well as 17 luxury cars, including a 2008 black Bugatti Veyron for $1.2 million and a 2003 black Ferrari Enzo for almost $1 million. [Miami Herald] Christopher Cameron