Paul Manafort was born to Paul Sr. and Mary Manafort on April 1, 1949, in New Britain, Connecticut. His dad was the mayor of New Britain from 1965 to 1971 and a war veteran who was later indicted in a corruption scandal. In 1977, Manafort joined the law firm of Vorys, Sater, Seymour & Pease in Washington, DC, where he worked for the next decade.
The following year, he worked as the deputy political director of the Republican National Committee and as the southern coordinator for Ronald Reagan’s presidential campaign. When Reagan was elected in 1980, Manafort was promoted to associate director of the Presidential Personnel Office and nominated to the board of the Overseas Private Investment Corporation. By working at such positions, Paul Manafort has earned a huge net worth.
How Rich Is Paul Manafort?
Paul Manafort has a net worth of $10 million and is a political consultant, attorney, lobbyist, and convicted felon. Republican Party presidential candidates Gerald Ford, Ronald Reagan, George H. W. Bush, and Donald Trump all hired him as a consultant at some point in his career.
He has also worked as a lobbyist for many dictators and oppressive governments around the world. From 2017 to 2019, federal prosecutors filed multiple charges against Manafort, including tax and bank fraud, conspiracy to defraud the United States, money laundering, and obstruction of justice.
It has been claimed by federal prosecutors that Paul Manafort’s wealth once exceeded $70 million. As time went on, he lost over $22 million in property to the government. On account of tax evasion and bank fraud, he received a prison term. He was jailed from June 2018 until May 2020. After receiving a pardon from President Trump, he was freed.
Manafort reportedly spent $11 million on various properties between 2006 and 2012. He is also said to have gotten $12 million from the pro-Russian former President of Ukraine in payments that were not made public. Over the course of time, he accrued seven equity loans totaling over $19 million. Years later, we found out that Paul made $60 million working as a consultant for wealthy Ukrainians.
Paul Manafort Has Reached A $3.15 Million Settlement With The Department Of Justice
The Justice Department filed a civil case against Paul Manafort, the chairman of Donald Trump’s 2016 presidential campaign, last year, and last week they announced that he had agreed to pay $3.15 million to settle the case “willful failure to timely report his financial interest in foreign bank accounts,” as stated in court documents.
The agreement was detailed in court documents filed on February 22 in the U.S. District Court for Southern Florida, where Manafort resides. For failing to report consulting income from Ukrainian sources that was deposited into accounts he is alleged to have directed to be opened in Cyprus, St. Vincent and the Grenadines, and the United Kingdom, the Justice Department sued Manafort last year for $2.9 million.
According to the civil lawsuit filed in West Palm Beach, Florida, Manafort made money as a consultant in Ukraine between 2006 and 2014. It claims that in 2013 and 2014, Manafort did not file a timely Report of Foreign Bank and Financial Accounts (FBAR) or federal income tax returns disclosing his interest in foreign accounts. You can check the tweet below in which it is said that Paul agreed for a settlement.
Many of the accounts, it is claimed in the lawsuit, were opened “without the use of Manafort’s name at all,” instead using nominee shell corporations opened or operated by others on his behalf.
“Despite having defences, Mr. Manafort has chosen to put this chapter of his life completely behind him,” Jeffrey Neiman, Manafort’s attorney, said in a statement.
While under scrutiny for his lucrative political consulting work in Ukraine, Manafort briefly led Trump’s campaign in 2016. He left office several months before the presidential election in November of 2016.
In March of 2019, a federal judge handed Manafort a 47-month prison sentence for fraud and tax evasion. His pardon was issued by then-President Trump in December of 2020. Trump administration officials have claimed prosecutorial overreach in this investigation.
In 2018, Manafort was found guilty on eight felony counts in Virginia and entered a plea agreement on 10 additional charges in a separate case, including three counts of failing to file reports of foreign bank and financial accounts and seven counts of bank fraud and bank fraud conspiracy. You can see the tweet below in which it is said that Paul was found guilty for eight felony counts.
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