Monday, May 16, 2016

Aluko sells USA home for $21.5M

Kola Aluko, controversial Nigerian oil tycoon, has sold his Bel-Air, Los Angeles mansion for $21.5 million, taking a $3 million loss after purchasing the sprawling residence in 2012 for $24.5 million. 

Aluko, 46, apparently sold the residence in an off-market transaction using a limited-liability company. An off-market sale in real estate refers to a property that is sold without any form of public advertising. Aluko is being investigated by Nigerian and European authorities for a series of money-laundering and fraud-related crimes.

Source: LA Times

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