Axios Mar 23, 2017
Manafort's offshore financial transactions come to light
U.S. Treasury officials have unearthed information on former Trump campaign manager Paul Manafort's offshore financial transactions through banks in Cyprus, per the AP:
- Manafort was known to route financial transactions through Cyprus, and used Cypriot shell companies as part of a nearly $19 million deal with Russian billionaire Oleg Deripaska to purchase Ukrainian cable television provider Black Sea Cable.
- In one case, the AP found that a Manafort-linked company received a $1 million payment in October 2009 from a mysterious firm through the Bank of Cyprus. The $1 million payment left the account the same day — split in two, roughly $500,000 disbursements to accounts with no obvious owner.
- Senate intel committee member Martin Heinrich (D-NM) told the AP revelations about Manafort's work were "serious and disturbing."
- "This is not a drip, drip, drip," Democratic Rep. Jackie Speier of California, a member of the House intelligence committee, told the AP. "This is now dam-breaking with water flushing out with all kinds of entanglements."