Quantcast
Connect with us

REVEALED: Paul Manafort’s shadowy Cyprus bank transactions under investigation by US Treasury

Published

on

The U.S. Treasury Department is probing the offshore financial transactions of former Trump campaign chairman Paul Manafort as part of a federal anti-corruption probe into his work in Ukraine.

Information related to the transactions was turned over earlier this year to the department’s Financial Crimes Enforcement Network by investigators in Cyprus, reported The Associated Press.

ADVERTISEMENT

A source familiar with the case told the AP that the Treasury Department requested the documents, and the Cyprus attorney general was made aware of the U.S. request.

Federal prosecutors began looking into Manafort’s paid work for the pro-Russian Party of Regions as part of a broader investigation into stolen Ukrainian assets after the nation’s Vladimir Putin-aligned President Viktor Yanukovych was ousted in 2014.

The AP reported earlier this week that Manafort secretly developed a plan to advance Putin’s interests in the U.S. in 2005, a year before he moved into Trump Tower.

Manafort quit the Trump campaign in September as questions began to swirl about his work in Ukraine, and his ties to the Putin regime have raised new questions as the FBI investigates possible collusion between President Donald Trump’s campaign and the Russian government.

ADVERTISEMENT

Financial records obtained by the AP show Manafort sometimes routed financial transactions through Cypriot shell companies, including a $19 million deal in 2014 with Russian billionaire Oleg Deripaska to buy Ukrainian cable television provider Black Sea Cable.

Deripaska, a Russian aluminum magnate and close ally of Putin, said afterward that Manafort and his associates refused to tell him how the money had been used.

Manafort pitched a “confidential plan” in 2005 to Deripasko to promote Russian interests through U.S. media, and the AP reported that he signed a $10 million annual contract with the oligarch — with whom he maintained a business relationship until “at least” 2009.

ADVERTISEMENT

The Republican political strategist also reportedly tried to help Deripaska obtain a U.S. visa in 2000 over objections by the FBI, which believed the billionaire had lied to agents during an interview.

The AP found in another case that a Manafort-linked company received $1 million in October 2009 from mysterious firm through the Bank of Cyprus, which Trump’s Commerce Secretary Wilbur Ross oversaw as vice chairman from 2014 until his Senate confirmation.

The White House was accused of withholding information from Congress about whether Trump or his campaign affiliates had ever received loans through the bank, which is partially owned by Viktor Vekselberg and Vladimir Strzhalkovsky — two longtime Putin allies.

ADVERTISEMENT

Ross verbally denied any knowledge of such transactions, but the White House refused to release a written response to a query from Democratic senators.

The AP reported that Manafort’s mysterious transaction more than seven years ago was split in half the same day the payment went through the Bank of Cyprus and were disbursed in two payments of $500,000 to accounts with no obvious owner.

Cyprus had a well-known history of money laundering before joining the European Union in 2004.

ADVERTISEMENT

A Ukrainian lawmaker released other financial documents earlier this week from the Party of Regions’ so-called “black ledger” that show Manafort laundered those payments using offshore accounts in Belize and Kyrgyzstan.

Serhiy Leshchenko, a Ukrainian lawmaker and investigative journalist, released a copy of an invoice on Manafort’s consulting company letterhead that shows a payment of $750,000 for the sale of computers to a Belize-based company.

On that same day, Oct. 14, 2009, Manfort’s name is listed in a $750,000 entry in the black ledger, which was found at party headquarters during the 2014 riots, that investigators view as a party slush fund.

ADVERTISEMENT

Manafort, who is wanted for questioning in Ukraine, accused Leshchenko of attempting to blackmail him before he stepped down from the Trump campaign.

Enjoy this piece?

… then let us make a small request. Like you, we here at Raw Story believe in the power of progressive journalism — and we’re investing in investigative reporting as other publications give it the ax. Raw Story readers power David Cay Johnston’s DCReport, which we've expanded to keep watch in Washington. We’ve exposed billionaire tax evasion and uncovered White House efforts to poison our water. We’ve revealed financial scams that prey on veterans, and legal efforts to harm workers exploited by abusive bosses. We’ve launched a weekly podcast, “We’ve Got Issues,” focused on issues, not tweets. And unlike other news outlets, we’ve decided to make our original content free. But we need your support to do what we do.

Raw Story is independent. You won’t find mainstream media bias here. We’re not part of a conglomerate, or a project of venture capital bros. From unflinching coverage of racism, to revealing efforts to erode our rights, Raw Story will continue to expose hypocrisy and harm. Unhinged from billionaires and corporate overlords, we fight to ensure no one is forgotten.

We need your support to keep producing quality journalism and deepen our investigative reporting. Every reader contribution, whatever the amount, makes a tremendous difference. Invest with us in the future. Make a one-time contribution to Raw Story Investigates, or click here to become a subscriber. Thank you. Click to donate by check.

Enjoy this piece?

… then let us make a small request. Like you, we here at Raw Story believe in the power of progressive journalism — and we’re investing in investigative reporting as other publications give it the ax. Raw Story readers power David Cay Johnston’s DCReport, which we've expanded to keep watch in Washington. We’ve exposed billionaire tax evasion and uncovered White House efforts to poison our water. We’ve revealed financial scams that prey on veterans, and efforts to harm workers exploited by abusive bosses. We’ve launched a weekly podcast, “We’ve Got Issues,” focused on issues, not tweets. Unlike other news sites, we’ve decided to make our original content free. But we need your support to do what we do.

Raw Story is independent. You won’t find mainstream media bias here. We’re not part of a conglomerate, or a project of venture capital bros. From unflinching coverage of racism, to revealing efforts to erode our rights, Raw Story will continue to expose hypocrisy and harm. Unhinged from corporate overlords, we fight to ensure no one is forgotten.

We need your support to keep producing quality journalism and deepen our investigative reporting. Every reader contribution, whatever the amount, makes a tremendous difference. Invest with us in the future. Make a one-time contribution to Raw Story Investigates, or click here to become a subscriber. Thank you.



Report typos and corrections to: [email protected]. Send news tips to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

Twitter mocks ‘gibbering conspiracy loon’ Trump after he claims Google rigged the election

Published

on

On Monday, President Donald Trump made the dubious claim that Google had tried to sway the election for Hillary Clinton.

"My victory was even bigger than thought!" the president proclaimed.

Wow, Report Just Out! Google manipulated from 2.6 million to 16 million votes for Hillary Clinton in 2016 Election! This was put out by a Clinton supporter, not a Trump Supporter! Google should be sued. My victory was even bigger than thought! @JudicialWatch

— Donald J. Trump (@realDonaldTrump) August 19, 2019

Continue Reading

Breaking Banner

Paul Krugman hilariously roasts Trump economic adviser for decades’ worth of terrible predictions

Published

on

Nobel Prize-winning economist Paul Krugman on Monday set his sights on Trump economic adviser Larry Kudlow, who himself is not actually an economist, for making decades' worth of terrible predictions.

Writing on Twitter, Krugman concedes that making predictions is a difficult business and he admits to making his own bad predictions in the past.

However, he then explains that Kudlow is unique because he's been making the same false prediction for decades -- namely, about tax cuts for the ultra-rich producing economic miracles.

Continue Reading
 

Breaking Banner

Twitter admits China has created hundreds of fake accounts to undermine Hong Kong protests

Published

on

Twitter on Monday admitted that China had created hundreds of fake accounts aimed at undermining the protests in Hong Kong that have gripped the city in recent weeks.

Specifically, Twitter found that at least 936 different accounts had been created within the People's Republic of China that have been "deliberately and specifically attempting to sow political discord in Hong Kong, including undermining the legitimacy and political positions of the protest movement on the ground."

Continue Reading
 
 

Thank you for whitelisting Raw Story!

As a special thank you, from now until August 31st, we're offering you a discounted rate of $5.99/month to subscribe and get ad-free access. We're honored to have you as a reader. Thank you. :) —Elias, Membership Coordinator
LEARN MORE
close-link
close-image