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Wed Jan 10, 2018, 06:47 PM

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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Read more: https://www.reuters.com/article/usa-trump-russia-manafort/cyprus-company-sues-ex-trump-campaign-manager-manafort-for-fraud-idUSKBN1EZ2GX

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Reply Cyprus company sues ex-Trump campaign manager Manafort for fraud (Original post)
Eugene Jan 2018 OP
marylandblue Jan 2018 #1
Phoenix61 Jan 2018 #2
MaryMagdaline Jan 2018 #3

Response to Eugene (Original post)

Wed Jan 10, 2018, 06:52 PM

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

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Response to Eugene (Original post)

Wed Jan 10, 2018, 06:58 PM

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

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

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Response to Eugene (Original post)

Wed Jan 10, 2018, 08:00 PM

3. This is a ruse

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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