According to recently disclosed court records, former Trump campaign manager Paul Manafort will now reportedly be forced to pay $3.15 million to resolve a civil case launched by the Justice Department (DOJ) over his alleged failure to report foreign bank accounts.
In an April 2022 complaint filed in Palm Beach, Florida, the DOJ accused Manafort of wilfully neglecting to furnish timely reporting on his financial interests in offshore bank accounts.
According to the lawsuit, Manafort earned consulting fees through commercial activities with Ukrainian people from 2006 to 2014 and reportedly deposited his earnings in accounts in Cyprus, the United Kingdom, and several other small countries.
According to the lawsuit, some of the accounts bore Manafort’s name as the owner, while others were reportedly owned through shell firms controlled by other persons on his behalf.
Persons with balances in foreign bank accounts over $10,000 are required to file a report on each financial account.
This includes information about the maximum amount, kind of account, and financial institution, according to the complaint.
In 2013 and 2014, Manafort reportedly omitted to record interest in overseas bank accounts on his federal tax filings.
Manafort began his career in politics in the 1970s and worked on several Republican campaigns, including those of Presidents Gerald Ford and Ronald Reagan.
He later went on to establish his own political consulting firm, which worked with a number of foreign politicians and political parties, including those in Ukraine and Russia.
In 2016, Manafort was hired by the Trump campaign to serve as its campaign chairman and played a significant role in the campaign’s messaging and strategy.
However, he resigned from the campaign in August of that year amid controversy over his work for controversial politicians in Ukraine.
Manafort has been the subject of numerous investigations and legal actions related to his work as a political consultant.