Venezuelans have not only been buying Spanish real estate, but also building it. The timing allowed them to pick up Spanish assets cheaply: Sambil replaced a mall that went bankrupt during Spain’s banking crisis. Among Salamanca’s other investors is Miguel Ángel Capriles, a relative of Henrique Capriles, a politician and leader of the opposition in Venezuela. Amid mounting international pressure on Mr. Maduro, the Spanish authorities have been stepping up their efforts to monitor the inflow of Venezuelan money. It’s a difficult task, according to some lawyers, given that wealthy Venezuelans have always kept money overseas to offset capital controls and currency fluctuations.

Source: New York Times July 29, 2018 08:37 UTC