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South Florida

SoFla luxury real estate now tied to former Odebrecht execs implicated in corruption probe

New information about the ties between the Brazilian construction firm and Miami was discovered through leaked documents

From left, clockwise: Marquis Miami, the Bath Club, an Odebrecht sign, and Peninsula 2 condos (Credit: Wikipedia)
From left, clockwise: Marquis Miami, the Bath Club, an Odebrecht sign, and Peninsula 2 condos (Credit: Wikipedia)

Three former executives of the Brazilian construction firm Odebrecht or their families were able to purchase condos at the Bath Club in Miami Beach, Peninsula II in Aventura and Marquis Miami in downtown Miami, according to leaked documents.

The documents, shared with the Miami Herald and other publications, show the direct ties between Odebrecht and real estate in Miami, where the company has a major U.S. presence.

Odebrecht S.A. pleaded guilty in December 2016 and agreed to a pay $2.6 billion as part of a corruption settlement with the U.S. Department of Justice and regulators.

The documents show that one of the former executives, Fernando Migliaccio, moved to Miami and said Odebrecht purchased a luxury condominium for him. Property records show the condo is at the Peninsula II high-rise in Aventura. The purchase was made through a British Virgin Islands company, according to the Herald.

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Migliaccio was arrested in Switzerland in February 2016 as he was trying to transfer funds and close accounts.

Another executive, Luiz Eduardo da Rocha Soares, who was involved in the corruption scheme, bought a condo at the Marquis building on Biscayne Boulevard, according to the Herald. The unit was also purchased with a British Virgin Islands company and had an assessed value last year of more than $1.1 million.

Yet another troubled Odebrecht executive connected to Miami is the former longtime head of Venezuela operations, Euzenando Azevedo. The Brazilian was a close friend of Hugo Chávez.

The son of Azevedo owns a $1.3 million unit at the Bath Club on Collins Avenue in Miami Beach. It was purchased in 2011, then “sold” in 2013 to a new limited liability company called Azevedo Bath Club LLC, according to the Herald. [Miami Herald] — Keith Larsen

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