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Eugene

(61,939 posts) Wed Jan 10, 2018, 07:47 PM Jan 2018

Cyprus company sues ex-Trump campaign manager Manafort for fraud

Source: Reuters

#U.S. LEGAL NEWS JANUARY 10, 2018 / 2:47 PM / UPDATED 4 HOURS AGO

Cyprus company sues ex-Trump campaign manager Manafort for fraud

Sarah N. Lynch
3 MIN READ

(Reuters) - U.S. President Donald Trump’s former campaign manager Paul Manafort faced a new legal headache on Wednesday after a Cyprus-based company tied to a Russian oligarch sued him and his business partner Richard Gates over allegations they committed financial fraud by misappropriating millions of dollars.

Surf Horizon Limited, a company linked in corporate filings to ally of Russian President Vladimir Putin named Oleg Deripaska, accused Manafort and Gates of misappropriating more than $18.9 million that the company had invested in Ukrainian telecom companies known collectively as the “Black Sea Cable.”

Manafort and Gates are already under criminal indictment by Special Counsel Robert Mueller, who has accused them of failing to register as foreign agents, conspiring to commit money launder and conspiring to defraud the United States.

Wednesday’s lawsuit, brought against the pair in a New York state trial-level court, marks the second time now that the Deripaska-linked company has sued them along with Pericles Emerging Market Partners, an investment management firm controlled by Manafort and Gates.

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3 replies

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Cyprus company sues ex-Trump campaign manager Manafort for fraud (Original Post) Eugene Jan 2018 OP

When even Russian oligarchs think you are crooked, you must really be a POS marylandblue Jan 2018 #1

That doesn't seem like a safe thing to do Phoenix61 Jan 2018 #2

This is a ruse MaryMagdaline Jan 2018 #3

marylandblue

(12,344 posts)

1. When even Russian oligarchs think you are crooked, you must really be a POS

Reply to Eugene (Original post)

Wed Jan 10, 2018, 07:52 PM

Jan 2018

Phoenix61

(17,018 posts)

2. That doesn't seem like a safe thing to do

Reply to Eugene (Original post)

Wed Jan 10, 2018, 07:58 PM

Jan 2018

I get the feeling oligarchs don't play nice when you steal from them.

MaryMagdaline

(6,856 posts)

3. This is a ruse

Reply to Eugene (Original post)

Wed Jan 10, 2018, 09:00 PM

Jan 2018

The money was being laundered by Manafort for the Russians. The Russians will now claim that the money held by Manafort was "misappropriated." Manafort will let a default final judgment be entered against him so the Russians can execute the judgement, garnish accounts and get liens on property in Managort's name, pretending he stole the money from them.

The Feds need to freeze this money if they can to prevent it going back to the money launderers.

This was the type of fraud that Magnitsky uncovered. Oligarchs would create phony lawsuits against a company whose ID they stole (browder's company). Oligarchs would "pay" the judgments to phony plaintiffs and then write off the phony payments on their taxes. Putin appointed tax officials let them declare the phony losses and they would be reimbursed for their business losses with Russian taxpayer money. Then they took the money and invested in NY real estate and US attorney prosecuted until he was fired and Trump flunky settled with them for 6 million.

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