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Manafort Had $60 Million Relationship With a Russian Oligarch
According to investigators, Russian oligarch and Putin crony Oleg Deripaska used Cyprus banks to launder millions in payments (euphemistically called loans) to Manafort. Some of the laundered funds were then transferred to a Delaware limited-liability corporation called Jesand LLC (which bears a strong resemblance to the names of Manafort’s daughters, Jessica and Andrea) and used to purchase a $2.5 million condo in New York in 2007.
by AGGELOS PETROPOULOS and RICHARD ENGEL
OCT 15 2017
Russian President Vladimir Putin with close personal friend -- Russian oligarch Oleg Deripaska
LONDON — Paul Manafort, a former campaign manager for President Donald Trump, has much stronger financial ties to a Russian oligarch than have been previously reported. An NBC News investigation reveals that $26 million changed hands in the form of a loan between a company linked to Manafort and the oligarch, Oleg Deripaska, a billionaire with close ties to the Kremlin. The loan brings the total of their known business dealings to around $60 million over the past decade, according to financial documents filed in Cyprus and the Cayman Islands.
NBC News reported in June that the business relationship between Deripaska and Manafort began in 2007. According to The Wall Street Journal, they worked together to further Russian interests in Georgia. Manafort then went on to spend nearly a decade working as a consultant for a pro-Russian political party in Ukraine. Deripaska was described in a 2006 U.S. diplomatic cable as “among the 2-3 oligarchs Putin turns to on a regular basis.”
According to investigators, Russian oligarch and Putin crony Oleg Deripaska used Cyprus banks to launder millions in payments (euphemistically called loans) to Manafort. Some of the laundered funds were then transferred to a Delaware limited-liability corporation called Jesand LLC (which bears a strong resemblance to the names of Manafort’s daughters, Jessica and Andrea) and used to purchase a $2.5 million condo in New York in 2007.