A judge sentenced Paul Manafort to an additional 43 months in prison on March 13 for financial fraud.
During his career, he worked as Trump’s campaign manager and gave advice to five other Republican presidential candidates.
In August of last year, he was found guilty of tax evasion on about half of his $60 million in earnings.
CNN reported that Paul Manafort, the former campaign manager for President Donald Trump, was sentenced to additional prison time on March 13th, bringing his total sentence to more than 7 years. When Manafort was originally sentenced, The Washington Post reported that he “could have faced up to 24 years in prison under federal sentencing guidelines,” but the judge in the case went with a reduced term. The Associated Press reported that Manafort’s involvement in Donald Trump’s presidential campaign had nothing to do with his financial fraud case.
According to CNN and other sources reporting on his indictment, Manafort spent more than $15 million of the more than $60 million he earned between 2010 and 2014 on extravagant purchases like:
- Real estate, including a $1.5 million New York City condo, $3 million Brooklyn brownstone and $2 million house in Virginia
- Landscaping and home improvements on a property in the Hamptons
- Nearly $1 million on clothing
- Three Range Rovers
- Nearly $1 million at an antique rug store
Heather Washkuhn, the bookkeeper for Manafort’s lobbying firm, testified that the company lost more than $630,000 in 2015 and $1.1 million in 2016, CNN reported.
When it comes to owning your own business, the conviction of Manafort serves as an example of what not to do. Philip Ayliff, Manafort’s tax preparer, testified before the jury that Manafort was paying himself a salary through his own consulting firm in 2012, which was against the law.
This includes $1.99 million in wages reported on his 2012 tax return; however, partners with ownership in a business like Ayliff and his wife’s political consulting firm DMP International should not pay out wages as CNN reported of Ayliff’s testimony. Upon learning of Manafort’s illegal activities, Ayliff said he immediately intervened, according to his testimony.
Paul Manafort Net Worth
In the fall of 2017, Manafort was indicted and provided the government with documents indicating that he had assets totaling $28 million. In addition to the $10 million bond he had to put up, his net worth is likely to have taken a significant hit.
When he was at the peak of his success in the entertainment industry, he was worth an estimated $70 million.
Who Is Paul Manafort?
At one time or another in his career, Paul Manafort has held positions as a lobbyist, campaign manager, political advisor, and attorney. He’s worked with politicians like Donald Trump and others while running businesses with ties to Ukraine and Russia. Paul Manafort has a lot more to say about himself:
Age: 69
Alma mater: Georgetown Law School
Birthplace: New Britain, Connecticut
Wife: Kathleen Manafort
Served as an advisor to five Republican presidential candidates:
- Gerald Ford
- Ronald Reagan
- Bob Dole
- George H.W. Bush
- Donald Trump
Date of arrest:Â Oct. 30, 2017
Date of conviction:Â Aug. 8, 2018.
Paul Manafort’s Family
Manafort has two daughters with his wife, Kathleen. In Connecticut, his father served as the mayor. With his wife, Manafort owns a large number of properties and a consulting firm. Their daughter Jessica is a film director and screenwriter, and their daughter Andrea is a lawyer. ‘
Wife and Daughters
Kathleen Manafort, a Georgetown University alumna and 1979 George Washington grad, is Manafort’s wife. Jessica (born in 1982) and Andrea (born in 1985) are the couple’s two children (born in 1985).
In March 2017, Jessica Yohai filed for divorce from her husband, Jeffrey Yohai, but Manafort had already spent millions to support some of his son-in-real law’s estate investments.
Paul Manafort Hamptons house
Ex-campaign manager for Donald Trump Paul Manafort has sold his Hamptons house for a little more than its asking price. New York Post first reported that the property, located off Jobs Lane in Water Mill, had sold for $10.1 million. Manafort must have struck gold because the asking price was only $10 million (again). Listing agent Susan Breitenbach of Corcoran was the one in charge of handling the sale.
The house itself, according to local rumor, is in such bad shape that it’s likely a teardown. As a result, the estimated $10 million price tag only covers the land’s value, which includes 2.37 acres near the bay and ocean that are not waterfront. With their $400k down payment, Manafort and his wife Kathleen bought the land in 1994 and immediately began construction on a home that exceeded the lot’s maximum allowed size. Finally, according to evidence presented at the Manafort’s trial, they spruced up the place with money obtained through tax fraud and money laundering, according to the documents and testimony presented.
A total of $6 million has been spent over the years on renovations and improvements to the Hamptons property. On the other hand, a Hamptons landscaper has testified about how Manafort hired him to maintain a large pond and hundreds of flowers at his home. In addition to trimming the 14-foot hedges, mowing the lawn and tending to the flowers, a white-and-red flower bed shaped like the letter M was maintained along the driveway of the stately Manafort Manor four to five times a week. A whopping $450,000 over the course of five years will be required to cover all of this. Additionally, there’s a tennis court, a pool and spa, a pool house with two stories and an indoor half-basketball court, as well as formal gardens and an outdoor putting green.
A Florida-based contractor testified that his company installed Apple TVs, networks, and other electronics in Manafort’s various homes from 2011 to 2014, at a total cost of $2.2 million, according to court documents. What was the source of all that money? By virtue of an agreement with the Russian aluminum tycoon Oleg Deripaska, Manafort was hired to “influence the U.S. and European politics, business dealings and news coverage to benefit Vladimir Putin’s government,” the AP reports. (The FBI raided Derispaka’s home in Washington, D.C., last week.)
Once indicted and sentenced to prison in 2019, the federal government seized all of Manafort’s assets, which included the Water Mill house as well as his condo in Trump Tower and lofts in Chinatown and Brooklyn’s Brownstone district as well as an apartment in Alexandria, Virginia. Trump pardoned him in December 2020; a federal judge ruled that Manafort could keep the properties not yet sold by the government, including the Water Mill estate, a Brooklyn brownstone and a three-bedroom, three-bath condo in Chinatown that’s currently on the market for $2.995 million.
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