Julio Iglesias used shell companies to amass real estate portfolio: Pandora Papers

His real estate attorney is also linked to Venezuelan businessman Raúl Gorrín

Miami /
Oct.October 04, 2021 06:00 PM

Singer-songwriter Julio Iglesias (Getty Images, iStock)

Singer-songwriter Julio Iglesias crafted his real estate portfolio in South Florida using shell companies, including for five properties on the ultra-exclusive Indian Creek Island, homes in the nearby town of Surfside, as well as for a property in Homestead.

Iglesias’ purchase of these properties was revealed in the Pandora Papers, a massive leak of nearly 13 million offshore shell company documents obtained by the International Consortium of Investigative Journalists, the Miami Herald reported. Though his ownership of the Indian Creek properties had previously been reported, Iglesias’ other real estate acquisitions had not been made public until now.

Iglesias used the offshore services provider Trident Trust to create the offshore shell companies in the British Virgin Islands.

The properties identified in the report are worth up to $120 million today, the Herald reported.

Iglesias, an award-winning Latin artist, began assembling land in Indian Creek in 1978. He listed four of the properties in 2017 for $150 million, but sold one last year for $30 million to a prominent plastic surgeon. Iglesias also sold a 2-acre property in Homestead earlier this year for $900,000.

Each of Iglesias’ properties identified by the Miami Herald is owned by a different company, which means he and his family likely own more than what was revealed, according to the Miami Herald.

Iglesias, who has been accused of not paying taxes in his home country of Spain, and his second wife, Miranda Rijnsburger, list their residence in the Dominican Republic.

Rijnsburger, a former Dutch model, is listed on a number of property records, and Russell L. King, Iglesias’ real estate lawyer, is named in the Pandora Papers 468 times between 2009 and 2015.

King is also linked to the creation of a British Virgin Islands company that was owned by Venezuelan businessman Raúl Gorrín, who has been tied to Venezuelan President Nicolás Maduro. Gorrín left Miami, where he had lived in the wealthy Cocoplum community of Coral Gables, in 2017 for Venezuela before the U.S. announced charges against him in South Florida.

[Miami Herald] – Katherine Kallergis






    Related Articles

    arrow_forward_ios
    Asdrúbal Cabrera and his his Southwest Ranches mansion (Getty)
    Cincinnati Reds’ Asdrúbal Cabrera sells Southwest Ranches mansion for record price
    Cincinnati Reds’ Asdrúbal Cabrera sells Southwest Ranches mansion for record price
    An alleged Miami Ponzi hustle
    An alleged Miami Ponzi hustle
    An alleged Miami Ponzi hustle
    Chris Bosh and the property (Getty, The Waterfront Team)
    Chris Bosh’s former waterfront Miami Beach mansion hits the market for $42M
    Chris Bosh’s former waterfront Miami Beach mansion hits the market for $42M
    Ecuadorian president, linked to US real estate, named in Pandora Papers
    Ecuadorian president, linked to US real estate, named in Pandora Papers
    Ecuadorian president, linked to US real estate, named in Pandora Papers
    David Grutman and Pharrell’s Goodtime Hotel in South Beach scores $164M refi
    David Grutman and Pharrell’s Goodtime Hotel in South Beach scores $164M refi
    David Grutman and Pharrell’s Goodtime Hotel in South Beach scores $164M refi
    (Getty)
    South Florida by the numbers: Stars need houses too
    South Florida by the numbers: Stars need houses too
    Daisy Chaplin and Charles Prince with the property at 6000 North Bay Road (Getty, Google Maps)
    Late Broadway legend Harold Prince’s children settle dispute over family’s North Bay Road mansion
    Late Broadway legend Harold Prince’s children settle dispute over family’s North Bay Road mansion
    Happiness begins in Miami: Joe Jonas, Sophie Turner buy Bay Point mansion
    Happiness begins in Miami: Joe Jonas, Sophie Turner buy Bay Point mansion
    Happiness begins in Miami: Joe Jonas, Sophie Turner buy Bay Point mansion
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...