Hugo Sluimer and Mikko Pakkanen are investors and public figures that buy and sell real estate in Miami-Dade County, Florida, through Blue Key Investments, LLC, its subsidiaries and may be connected to allegations of money laundering and tax evasion.
Blue Key Investments, LLC’s record-breaking transaction was located in Miami Beach’s famous Setai Hotel (Setai Penthouse B), which was purchased for $15 million and sold shortly after for a whopping $27 million by power broker Jeff Miller of Zilbert International Realty. (Actual selling subsidiary: Setai Ph Villa B, LLC EIN 27–2643563)
The majority investor in Blue Key Investments, LLC is Mikko Pakkanen, who is the owner and founder of software company E-BROS OY, Fleetlogis, LTD, Meshworks Wireless Oy in Tampere, Finland. The Pandora Papers, leaks, and public records recently uncovered that Mikko Pakkanen is also the beneficiary owner of multiple offshore companies such as: Restinver Investments Limited (British Virgin Islands), Oceanway Trading Limited (British Virgin Islands), and other entities in the BVI and Malta. Interestingly, the Pandora Papers exposed Pakkanen and his companies for having deep business relationships with Paul Michiel van Lienden’s International Corporate Services aka ICS, whose name pops up in some of the biggest fraud, money laundering, and corruption lawsuits. Another offshore entity of interest is Rasumus Investments Limited, which briefly owned Blue Key Investments, LLC according to sunbiz.org annual filing.
Pakkanen’s business partner, Dominican Republic socialite Hugo Sluimer (Netherlands), who resides in Casa De Campo, was also an investor in Blue Key Investments, LLC and reportedly invested $1 million in the project. Offshore leaks also revealed that Sluimer has offshore companies such as: Swiss Boulevard Investment Limited (Panama), which is also managed by none other than Paul Michiel van Lienden from ICS. According to Open Corporates, Paul Michiel van Lienden is a director of Hugo Sluimer’s company:
Swiss Boulevard Investments S.A.
Latest Events 2004–05–26–2018–06–03
Addition of officer Hugo Sluimer, director
Addition of officer Paul Michiel van Lienden, director
Addition of officer Paul Michiel van Lienden, secretario
In 2019, according to US public records, Sluimer and Pakkanen were accused of money laundering and tax evasion in relation to Blue Key Investments, LLC. Sluimer sued for slander in an attempt to salvage their reputation, but unfortunately for the business partners the case was dismissed by the judge in its entirety.
However, recently released emails to and from Sluimer confirm a “clean formula” using offshore companies did exist:
To: Hugo Sluimer <email@example.com>
Sent: Wednesday, November 14
Subject: Re: Bahamas / US Tax Structure
How are you?
A friend asked about you and your memorable penthouses. You met him in Miami. Anyway, he is still very interested in your structure and how you are legally able to avoid US taxation through Bahamas shell companies while flipping property in Miami. He thinks it is not possible.
As I understand it from you:
- There are 2 offshore companies.
- You pretend to be the “lender”. You are absolutely not allowed to be in the real estate company.
- Your partners / friends are the real estate investors and borrow the money from you. (their own funds + yours)
- You the “lender” charge very high interest to move the profits out of taxable waters.
- Then as interest accrues you the “lender” slowly distribute the profits to yourself and partners tax free.
- xxxxxxx set up this structure for you.
Please let me know if this is correct…
HUGO SLUIMER RESPONSE:
From: Hugo Sluimer <firstname.lastname@example.org>
Sent: Wednesday, November 14, 2018 3:16:18 PM
Subject: Re: Bahamas / US Tax Structure
Please don’t disclose any such info to anybody since it is confidential.
We are sure that we found a clean formula that works (double/triple checked it with specialists) and so far so good.
The details that you outlined below are partly incorrect and incomplete, but I don’t want to specify the exact ingredients.
I trust that you respect our confidentiality request to not disclose any such info to 3rd parties.
Sluimer clearly seems to be very worried about confidentiality and refuses to give the exact ingredients of what he calls a “Clean Formula.”
The email indicates that Sluimer was allegedly not supposed to be a member of Blue Key Investments LLC as he was the 3rd party “pretend” offshore lender. However, the following email confirms he did have a financial interest in Bentley Bay PH, which is owned indirectly by Blue Key Investments, LLC.
From: Hugo Sluimer [mailto:email@example.com]
Sent: Wednesday, October 09, 2013 10:58 AM
To: paula sanchez; Rob Mc; Dennis Sluimer; H. Vijverberg; firstname.lastname@example.org
Subject: Re: Bentley Bay PH ready for sale
On Monday, October 7, 2013, Hugo Sluimer wrote:
After 2 1/2 years renovation/make over we’re ready to make some money. the bar pole is waiting, any lead is welcome, haha.
If Sluimer was a member of Blue Key Investments, LLC which the email suggests then the manager Janne Keskinen should have witheld US federal taxes on his behalf for his share of the $12 million gross profit made on the Setai PH B sale. However, emails and Sluimers own admission on a recorded phone conversation indicate that Sluimer did not have an ITIN or SSN which is a pre-requisite to file tax returns or to withhold taxes. Did Janne Keskinen and/or Mikko Pakkanen withhold Sluimer’s taxes or not and if so how?
Monaco resident, Mikko Pakkanen was asked to answer questions relating to the alleged money laundering and tax evasion scheme but did not respond. Lake Worth residents Janne Keskinen and Mirjami Keskinen are equally staying silent.
To be continued