Author Topic: Manafort lived the high life off millions allegedly hidden in offshore accounts  (Read 2288 times)

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Manafort lived the high life off millions allegedly hidden in offshore accounts

By Lia Eustachewich

October 30, 2017 | 11:04am | Updated

Paul Manafort raked in tens of millions of dollars by secretly working for the Ukrainian government — and blew more than $12 million on shopping sprees, antiques, Range Rovers and housekeeping, according to court documents.

President Trump’s former campaign manager allegedly personally laundered $18 million through offshore accounts, located mainly in Cyprus and the Grenadines, out of more than $75 million funneled into them by him and his “right-hand man” political consulting partner Richard Gates.

Between 2008 and 2014, Manafort tapped into the overseas accounts as if they were his personal piggy bank to fund his lavish lifestyle in the United States, according to the indictment filed Monday.

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Oceander

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It doesn’t look good for Manafort.

Offline edpc

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I disagree.  Circle gets the square.

Offline Emjay

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It doesn’t look good for Manafort.

Here he is in one of those suits that probably cost enough to feed a third world country.

It just looks like a suit to me.

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Offline ConservativeGranny

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Manafort isn't the only one involved in money laundering. There are more even closer to home in the WH doing the same thing. I believe that if you follow the money on this case you will get to the truth. And it will hit very close to home.

There is no way that these campaign workers had contact with Russian operatives without some direction from the top. And if Trump wasn't worried about that he wouldn't be howling about it on Twitter.

Offline truth_seeker

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It doesn’t look good for Manafort.

He sure could have used a really good tax attorney !!
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Online Bigun

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He sure could have used a really good tax attorney !!

He could have done it all legally but the greedy bastard didn't WANT to pay taxes!
"I wish it need not have happened in my time," said Frodo.

"So do I," said Gandalf, "and so do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given us."
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Offline truth_seeker

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He could have done it all legally but the greedy bastard didn't WANT to pay taxes!

He might have avoided a lot of taxes, with services of a good tax attorney.

Taxes need not be paid immediately on foreign source income; they can legally be deferred almost indefinitely.

I am not a tax attorney, but I heard it used to be possible to defer payment, provided the taxable net income was not "remitted" to the US parent company. In theory the funds are being used offshore, for investments etc.

A trick was however, to "lend" the funds back into a US entity.  I do not know the legality of that now.

Example: US parent corporation earns profits from foreign ops. Said US parent segregates some of the foreign source taxable profit, and holds it offshore in low/no tax jurisdiction. (like Channel Islands, Bermuda, etc.)

As long as the funds remain offshore, they are not taxed in the US. The US is one of the few countries, which attempts to tax the worldwide earnings of US firms, btw.

Earn a profit on foreign project #1, keep said funds offshore, redirect said funds into another foreign project #2.

Getting US firms to remit such funds has been the subject of much political discussion, by both parties. It is said to number in the $$ Trillions.

A contact of mine, ex-US Treasury Dept. Special Agent, indicated these people may have tripped themselves up by lying about offshore accounts etc. Hence the early morning raid at Manafort's home, etc.

Investigators get some bank account statements, interview some people, get them to make statements, then trip them up for lying  about having foreign money, which is a crime, even if the possession of funds is legal.

Can you say Martha Stewart? Lying to the Feds.

"God must love the common man, he made so many of them.�  Abe Lincoln

Offline ConservativeGranny

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Here he is in one of those suits that probably cost enough to feed a third world country.

It just looks like a suit to me.

Um, Emjay I don't think that is Manafort. I believe that is Donald Trump Jr. in a suit.

Offline Fantom

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Um, Emjay I don't think that is Manafort. I believe that is Donald Trump Jr. in a suit.

Opps.
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Offline Emjay

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Um, Emjay I don't think that is Manafort. I believe that is Donald Trump Jr. in a suit.

It's Manafort.  But maybe not the best pic.

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Offline RoosGirl

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If that's Manfort it's a 20 year old picture.

Offline Frank Cannon

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He could have done it all legally but the greedy bastard didn't WANT to pay taxes!

Who the hell does. This dumb bastards mistake was getting too high profile for 5 minutes in the Trump campaign. It put a target on his back.

Offline Frank Cannon

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It's Manafort.  But maybe not the best pic.

It ain't Manfart. It's Don Jr.


« Last Edit: October 31, 2017, 03:06:00 am by Frank Cannon »

Offline RoosGirl

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Anyway, there's a suit:


and then there's a suit:


Offline Frank Cannon

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Anyway, there's a suit:

and then there's a suit:


What's with all the baggy clown suits?

Here's a suit....


Offline RoosGirl

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What's with all the baggy clown suits?

Here's a suit....



Gotta tuck your pants into your boots with that one.  Plus it's faggy pink.

Offline Frank Cannon

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Gotta tuck your pants into your boots with that one.  Plus it's faggy pink.

I got goods to show off lady and the pink brings out the color in my bloodshot eyes.

Offline RoosGirl

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I got goods to show off lady and the pink brings out the color in my bloodshot eyes.

In pants that tight *I* could show off goods.

Offline Emjay

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It ain't Manfart. It's Don Jr.




Of course it was Manafort.  Donald Trump Jr. is a very good looking guy.  You'd have to look hard to find a picture of him as ugly as the one you posted.



[attachment deleted by admin]
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Offline RoosGirl

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Of course it was Manafort.  Donald Trump Jr. is a very good looking guy.  You'd have to look hard to find a picture of him as ugly as the one you posted.

I didn't have to look very hard


Offline Frank Cannon

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Of course it was Manafort.  Donald Trump Jr. is a very good looking guy.  You'd have to look hard to find a picture of him as ugly as the one you posted.

I will put this to a forum poll if it comes to that. The dude's pic you posted outside is that of one Donald J Trump Jr. Bank on it.

Offline Emjay

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I will put this to a forum poll if it comes to that. The dude's pic you posted outside is that of one Donald J Trump Jr. Bank on it.

If you think you can get anybody else interested enough to vote in the poll, go for it.
Against stupidity, the Gods themselves contend in vain.

Offline Frank Cannon

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If you think you can get anybody else interested enough to vote in the poll, go for it.

10 Things to Know for Tuesday

https://wtop.com/national/2017/07/10-things-to-know-for-tuesday-103/


Offline RoosGirl

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Let me caption that picture for you Frank.

Quote
FILE - In this April 17, 2017, file photo, Donald Trump Jr., the son of President Donald Trump, speaks to media during the annual White House Easter Egg Roll on the South Lawn of the White House in Washington.

Happy to repair the record, as always.