Word: centroamerica
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Dates: during 1970-1979
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Tacho greatly expanded the family's wealth, although he did not always manage it well; some of his companies were so poorly run that they failed to turn a profit. Moving into the banking field with ownership of the Banco de Centroamerica, he heavily mortgaged his properties in Nicaragua in order to make available large amounts of cash. These funds were then shuttled through a network of interlocking companies in the U.S. and the Caribbean. Through such maneuvering, Somoza acquired his mansion in Miami Beach, which is officially owned by a company based in the Virgin Islands, two posh...
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