Quantcast
Connect with us

Ex-Trump aide Paul Manafort faces 18 criminal counts

Published

on

Paul Manafort, a former chairman of Donald Trump’s 2016 presidential campaign, faces 18 criminal counts in his trial in a federal court in Alexandria, Virginia, that starts on Tuesday. Half the counts involve bank fraud and bank fraud conspiracy, which can carry a maximum sentence of 30 years in prison for each count. He has pleaded not guilty. Here is a summary of the charges:

ADVERTISEMENT

FALSE TAX RETURNS – FIVE COUNTS

Manafort is charged with five counts of signing off on and aiding in the production of false tax returns, one count each for 2010, 2011, 2012, 2013, and 2014. Prosecutors say Manafort intentionally indicated on the returns that he did not have bank accounts in foreign countries even though he controlled a series of accounts in Cyprus and elsewhere, and underreported his earnings in order to limit his taxable income.

FAILURE TO REPORT FOREIGN BANK ACCOUNTS – FOUR COUNTS

Prosecutors charged Manafort with four counts of failing to report so-called Foreign Bank Account Reports, or FBARs – one count for each year from 2011 to 2014. Generally, U.S. citizens are required to submit an FBAR report annually if the aggregate value of their foreign financial accounts exceeds $10,000 during the 12-month period. Prosecutors say Manafort did not submit FBARs even though he had funneled millions of dollars through overseas accounts in Cyprus, Saint Vincent and the Grenadines and the Seychelles.

ADVERTISEMENT

LOANS FROM CITIZENS BANK – THREE COUNTS

Prosecutors charged Manafort with bank fraud and bank fraud conspiracy related to a $3.4 million loan in March 2016 from Citizens Bank, a Rhode Island-based lender, secured by a condominium in the Soho neighborhood of Manhattan. Prosecutors say Manafort was not truthful in his application for the loan, falsely claiming that it was not held as a rental property in order to maximize the amount he could borrow from the bank. Manafort was also charged with one count of bank fraud conspiracy related to an attempt to get a separate $5.5 million loan from the bank on a brownstone in Brooklyn, which did not materialize.

LOAN FROM BANC OF CALIFORNIA – TWO COUNTS

ADVERTISEMENT

Prosecutors charged Manafort with bank fraud and bank fraud conspiracy for submitting a false statement of assets and liabilities, among other misleading information, to secure a $1 million business loan from Banc of California in 2016.

LOANS FROM THE FEDERAL SAVINGS BANK – FOUR COUNTS

Prosecutors charged Manafort with two counts of bank fraud and two counts of bank fraud conspiracy related to two loans worth $16 million from the Federal Savings Bank, a small Chicago-based lender, in late 2016 and early 2017. Prosecutors say Manafort, along with his then associate Rick Gates, provided the bank with doctored profit and loss statements in order to secure the loans, among other misleading information. Federal lent Manafort $9.5 million against his estate in the Hamptons, an enclave for the rich on the eastern tip of Long Island, and $6.5 million against the Brooklyn brownstone.

ADVERTISEMENT

Reporting by Nathan Layne in New York; Editing by Peter Cooney


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

Breaking Banner

National Enquirer tried to protect Trump from allegation of forcibly raping 13-year-old girl: report

Published

on

Two of the scandals swirling around President Donald appear to have collided in a blockbuster new book by investigative reporter Ronan Farrow.

Trump's relationship with American Media Incorporated (AMI), which owned the National Enquirer supermarket tabloid, has been under focus for a $150,000 hush money payment to former Playboy playmate Karen McDougal.

Trump has also faced ongoing scrutiny for his longtime friendship with Jeffrey Epstein.

The relationship between the two scandals was examined in the new book Catch and Kill: Lies, Spies and a Conspiracy to Protect Predators.

Continue Reading

Facebook

Republican stumbles as he tries to defend Trump’s claim that Iran can be trusted to fight ISIS

Published

on

During an appearance on Fox News this Wednesday, Rep. Andy Biggs (R-AZ) hit a snag while trying to justify President Trump's earlier contention that Russia and Iran would step in to fill the void left by the US after its withdrawal from northeast Syria, saying that "Russia, Iran, Syria and to maybe slightly lesser extent Turkey, they all hate ISIS as much as we do," during a Wednesday press conference alongside Italian President Sergio Mattarella.

Speaking to Biggs, Fox News host Harris Faulkner pointed out that Trump's willingness to partly cede Syria's future to Iran contradicts his and other conservatives' rhetoric towards the Islamic Republic.

Continue Reading
 

Breaking Banner

Alan Dershowitz boots rival lawyer from sex abuse case

Published

on

Alan Dershowitz continues to deny accusations that he had sex with an underage woman on Jeffrey Epstein's private island. Flight logs show Dershowitz regularly flew on Epstein's private plane, dubbed the Lolita Express.

Dershowitz' explanation for why the allegations continue to dog him despite his firm denies is that a lawyer for the woman accusing Dershowitz—Virginia Giuffre—is out to get him.

On Wednesday, a judge agreed to take David Boies, the high-profile lawyer, off the case, reports the Daily Beast.

Continue Reading
 
 
Help Raw Story Uncover Injustice. Join Raw Story Investigates for $1 and go ad-free.
close-image