Paul Manafort has had a particularly damning 24 hours. Not only was it revealed that the former Trump campaign manager’s consulting firm received $1.2 million from the “secret ledger” of Ukraine funds, but he also began the process of registering as a foreign agent due to his strong ties to Ukraine and Russia. Manafort will be joining Michael Flynn as another former Trump advisor turned foreign agent due to Russian ties. Between questionable offshore banking habits and accusations of money laundering, this is hardly the first time that Manafort has found himself in hot water over shady business dealings.
However, it has also come to light that Manafort’s shell company has received $13 million in loans from companies with major Trump ties following his possibly forced exit from the campaign back in August. According to the New York Times report:
The purpose of the loans is unstated in public records, although at least some of them appear to be part of an effort by Mr. Manafort to stave off a personal financial crisis stemming from failed investments with his son-in-law.
The transactions raise a number of questions, including whether Mr. Manafort’s decision to turn to Trump-connected lenders was related to his role in the campaign, where he had agreed to serve for free.
These new reports also shine a harsh light on many of Manafort’s transactions following his work in Ukraine, often using a shell company, Summerbreeze L.L.C., to invest in luxury properties in New York, Florida, Virginia, and Los Angeles. The source of the money for such investments still remain unclear, but if it’s like any of Manafort’s other recent business dealings, it’s sure to bring fresh scandal down on his head.
(Via The New York Times)