U.S. Dept. of Justice sues former President Trump's onetime campaign chairman Paul Manafort over allegations he failed to report interest in foreign bank accounts.
The Justice Department is seeking $2.9 million from Manafort, accusing him of failing to report consulting income from Ukrainian sources that was deposited into accounts he is alleged to have directed to be opened in Cyprus, St. Vincent and the Grenadines, and the United Kingdom.
According to a civil lawsuit filed Thursday in West Palm Beach, Florida, Manafort conducted consulting work in Ukraine from 2006 to 2014. The lawsuit alleges that Manafort, who hired an accountant to prepare his federal tax returns, did not report his interest in foreign accounts on his federal income tax returns or through a timely filed Report of Foreign Bank and Financial Accounts, known as"FBAR," for 2013 and 2014.
Many of the accounts were opened on his behalf, using nominee shell corporations opened or operated by others without Manafort’s name, the lawsuit claims. The Treasury Department previously sent Manafort a notice about the penalties in July 2020, the lawsuit says.