Former Trump campaign manager Paul Manafort will pay $3.15 million to settle a civil lawsuit filed by the Justice Department (DOJ) for his alleged failure to report foreign bank accounts, newly released court documents show.
The DOJ accused Manafort of willfully failing to provide timely reports about his financial interests in foreign bank accounts in an April 2022 lawsuit filed in Palm Beach, Florida. (RELATED: ‘Known Russian Agent’: US Places Sanctions On Manafort Associate)
PAUL MANAFORT will have to pay $3.2M to settle federal charges that he failed to disclose foreign bank accounts under an agreement approved by a federal judge last week, reports @Florida_Bulldog.
*Presidential pardons do not wipe away civil penalties.https://t.co/C76c3LmXr9
— Kenneth P. Vogel (@kenvogel) March 5, 2023
Manafort made consulting income from business dealings with Ukrainian individuals from 2006-14 and allegedly deposited his income in accounts based in Cyprus, the United Kingdom, and St. Vincent and the Grenadines, according to the lawsuit. Some of the accounts listed Manafort’s name as the owner, while others were allegedly held by shell corporations run by various individuals on his behalf, the lawsuit reads.
Individuals with balances in foreign bank accounts over $10,000 are required to file a report on each financial account with disclosures about the maximum value, type of account and financial institution, the lawsuit continued. Manafort allegedly failed to report interest in foreign bank accounts on his federal tax returns in 2013 and 2014.
Manafort served as former President Donald Trump’s campaign chairman from June to August 2016. He was convicted on eight counts of tax and bank fraud in 2018 and pardoned by Trump in December 2020.