The former Motorola property in Harvard was transferred in two separate international money laundering schemes, newly published documents show.
In the late 1990s, Motorola announced a new phone manufacturing plant in Harvard. The 1.5 million square foot office and plant became the largest building in the region, Politico reported.
Motorola said at the time that the $100 million factory would require 5,000 employees to operate.
A few years after construction was complete, the building was never used.
The Pandora Papers are part of nearly 12 million leaked documents published by the International Consortium of Investigative Journalists in early October.
The documents describe how powerful figures hide large amounts of money and provide more details on the owners of the property over the years.
In 2008, Chaim Schochet, a Miami investor of Optima International, bought the empty building from Motorola for $16.75 million, Politico reported.
Optima International was buying many properties across the Midwest at the time, promising jobs and economic growth.
According to prosecutors, the purchased properties were used to hide a Ukrainian oligarch’s stolen money.
After Ukraine’s 2014 revolution, investigators said Ihor Kolomoisky, a Ukrainian banking tycoon, was overseeing a large Ponzi scheme totaling at least $5.5 billion, Politico reported.
Prosecutors say Kolomoisky used Ukraine’s largest…