Banks Subpoenaed for Manafort Records

According to an article today in Bloomberg Politics, not only was Manafort's Alexandria, VA residence raided, grand jury subpoenas have been sent to unspecified global banks for account and transaction records for Paul Manafort's accounts, as well as those of his businesses and those of Rick Gates, his long-time associate.

With Bank Subpoenas, Mueller Turns Up the Heat on Manafort

Mueller’s team of investigators has sent subpoenas in recent weeks from a Washington grand jury to global banks for account information and records of transactions involving Manafort and some of his companies, as well as those of a long-time business partner, Rick Gates, according to people familiar with the matter.

The special counsel has also reached out to other business associates, including Manafort’s son-in-law and a Ukrainian oligarch, according to one of the people. Those efforts were characterized as an apparent attempt to gain information that could be used to squeeze Manafort, or force him to be more helpful to prosecutors.

The Mueller investigation isn't the only one currently probing Manafort's finances, as was reported three weeks ago in WSJ. Manhattan DA Vance Cyrus and NY AG Eric Schneiderman are examining financial transactions involving yet another Trump-connected person, Steve Calk.

New York Seeks Bank Records of Former Trump Associate Paul Manafort

New York prosecutors have demanded records relating to up to $16 million in loans that a bank run by a former campaign adviser for President Donald Trump made to former campaign chairman Paul Manafort, according to a person familiar with the matter.

The subpoena by the Manhattan district attorney’s office to the Federal Savings Bank, a small Chicago bank run by Steve Calk, sought information on loans the bank issued in November and January to Mr. Manafort and his wife, the person said. The loans were secured by two properties in New York and a condominium in Virginia, real-estate records show.

Asked about the subpoena Monday, Mr. Calk said he had no comment.

A spokesman for Mr. Manafort declined to comment.

Mr. Calk was a member of Mr. Trump’s economic advisory panel who overlapped with Mr. Manafort on the Trump campaign. Messrs. Manafort and Calk knew each other before the campaign, a person familiar with the relationship has said.

The bank’s loans to Mr. Manafort equaled almost 24% of the bank’s reported $67 million of equity capital, according to a federal report. Around the time they were issued, Mr. Calk had expressed interest in becoming Mr. Trump’s Army Secretary, the Journal previously reported, citing three people briefed on the Army interactions.

There's also an ongoing probe by the US Attorney in Manhattan relating to a failed real estate development project in which Manafort was partnered with Ukrainian oligarch, Dmitry Firtash, who is hiding out in Austria and facing extradition to the US in a case where he has been charged with bribing Indian officials to secure mining permits. From the Bloomberg article linked above:

The inquiry by the U.S. Attorney in Manhattan initially focused on a Manafort-backed business called CMZ Ventures, which sought to develop a luxury skyscraper on Park Avenue in 2008. The partnership received $25 million from Firtash, according to court records filed in a New York federal lawsuit. But the money was never invested in a project, and the firm was shuttered in 2009.

The plaintiffs in that CMZ civil suit, including the former prime minister of Ukraine, Yulia Tymoshenko, alleged the real purpose of the firm was to launder money through the U.S. financial system that Firtash had obtained improperly by skimming sales of natural gas to Ukraine.

In court papers, lawyers for CMZ Ventures and fellow defendants argued that U.S. laws didn’t apply to gas transactions abroad and that the New York court had no jurisdiction in the matter. A federal judge agreed, dismissing the lawsuit in 2015.

But wait, there's more.

The FBI is investigating failed real estate development projects headed up by Manafort's son-in-law, Jeffrey Yohai, estranged from Manafort's daughter, Jessica. As the NYT reported in late June:

F.B.I. Investigating Deals Involving Paul Manafort and Son-in-Law

Federal investigators are examining financial transactions involving Paul Manafort and his son-in-law, who embarked on a series of real estate deals in recent years fueled by millions of dollars from Mr. Manafort, according to two people familiar with the matter.

The transactions involve the financing of apartments and luxury homes in New York and California using money from Mr. Manafort, as well as from other investors solicited by the son-in-law, Jeffrey Yohai, including the actor Dustin Hoffman and his son. F.B.I. agents have reviewed financial records related to Mr. Yohai, who has been accused in a lawsuit of defrauding investors, the sources said.

Mr. Manafort declined to comment. A lawyer for Mr. Yohai did not respond to a request for comment.

The Summerbreeze loan was part of a series of mortgages over the past year, totaling $20 million, secured by properties belonging to Mr. Manafort or his wife. Some of that money appears to have been used by Mr. Manafort to try to salvage his investments with Mr. Yohai. Court records show that Mr. Manafort and his wife invested at least $4 million in several California properties, part of a real estate business that one of Mr. Manafort’s daughters described as a joint venture between her father and Mr. Yohai.

Ironically, in this last case, it looks like Manafort was trying to bail out his son-in-law, who, if angry investors are to be believed, was running a Ponzi scheme. A lawsuit filed in federal court against Yohai was dismissed after Yohai's lawyer filed a motion, arguing that NY state was the appropriate venue since both the the plaintiff and defendant are residents of NY. From The Real Deal (NY real estate news publication), published two weeks ago:

Judge tosses fraud suit against Manafort’s son-in-law over technicality

Former Trump campaign chair Paul Manafort’s son-in-law Jeffrey Yohai just won some precious time in his fight against fraud charges. On Wednesday, a federal judge dismissed an investor’s lawsuit over a technicality.

The plaintiff, New York photographer Guy Aroch, had sued in federal court in November, alleging he invested $2.9 million in Yohai’s real estate projects but never got any money back. Instead, Aroch alleged, Yohai used the money for “personal travel; lavish purchases; and/or speculative ventures outside the investment mandates.”

Yohai filed a motion to dismiss the suit, arguing that because both parties live in New York the matter should be brought to a state court. A judge granted the motion on Wednesday. Aroch’s attorney, who declined to comment, promptly refiled the suit in state court.

They're really pushing these stories hard aren't they.

a reply to: theantediluvian

Where there is smoke.

There's fire.

Follow the money.

Sounds like the Russian collusion narrative is a dry well for the Special Counsel.
Maybe they'll get Manafort on some Indian/Ukranian collusion on a business deal not related to the election?

Not to be that guy but is this an open-ended investigation that is looking for Russians or just any dirt on any member of Trump's campaign team? If we're gonna have witch hunts, why can't we start with the DNC not turning their servers over to the FBI or why they were able to deny the FBI access? Can we talk about the 400 million dollars in different currencies that Obama sent to Iran? Where did that money even come from? The Clinton Foundation donations and the correlation of pay to play? These are things I want to know about. I expect any global real estate tycoon to have ties to lots of countries, including Russia where you have to bribe the government to get things built. I'm not defending Trump but there are more insidious things I'd like looked into.

a reply to: Anathros


you'd think with the republicans in charge some of that would be looked into, huh?

odd that. maybe no evidence? my opinion anyway.

originally posted by: UKTruth
Sounds like the Russian collusion narrative is a dry well for the Special Counsel.
Maybe they'll get Manafort on some Indian/Ukranian collusion on a business deal not related to the election?

Funny how you always jump to whatever conclusion you can find that doesn't involve any collusion with Russia. Goofy.

I don't think Manafort will take the fall for Trump. Not the most loyal bunch in that WH!!!

originally posted by: knoxie
a reply to: Anathros


you'd think with the republicans in charge some of that would be looked into, huh?

odd that. maybe no evidence? my opinion anyway.

That or both sides are so crooked that they're worried that any investigation could lead back to them being investigated. My opinion anyways.

a reply to: theantediluvian

They want Manafort to flip and divulge. Clearly the weakest link that may have information.

Question is, does he have any.

Follow the money...

AND the string of dead Russians...

a reply to: Anathros


republicans are capable of investigations, there is one ongoing.

trump campaigned pretty heavily on investigating Hillary.. what was the reason he decided not to in the end, I honestly forget?

didn't want to start that precedent, I suppose..

originally posted by: Dudemo5

originally posted by: UKTruth
Sounds like the Russian collusion narrative is a dry well for the Special Counsel.
Maybe they'll get Manafort on some Indian/Ukranian collusion on a business deal not related to the election?

Funny how you always jump to whatever conclusion you can find that doesn't involve any collusion with Russia. Goofy.

The story is about deals with Ukraine and India.

Looks like Manafort has already started ratting out the WH...this rabbit hole looks deep.

www.rawstory.com...

Thanks for keeping us up to date, AD.

It appears Trump and friends may have weaved a terrible web for themselves that they may have troubles getting out of.

a reply to: olaru12

As reported by Sorcha Faal for all her followers.

originally posted by: UKTruth

originally posted by: Dudemo5

originally posted by: UKTruth
Sounds like the Russian collusion narrative is a dry well for the Special Counsel.
Maybe they'll get Manafort on some Indian/Ukranian collusion on a business deal not related to the election?

Funny how you always jump to whatever conclusion you can find that doesn't involve any collusion with Russia. Goofy.

The story is about deals with Ukraine and India.

The story is about more than just deals with Ukraine and India. Plus, even if it were ONLY about that, how the hell do you jump directly to "WOW, it looks like the Russia story is a dry well." Why you lickemo stickemo jones?

originally posted by: xuenchen
a reply to: olaru12

As reported by Sorcha Faal for all her followers.

How about this link?

www.bloomberg.com...

originally posted by: olaru12

originally posted by: xuenchen
a reply to: olaru12

As reported by Sorcha Faal for all her followers.

How about this link?

www.bloomberg.com...

BwaaaHaHaHa

"according to people familiar with the matter"