Justice Department sues Paul Manafort for nearly $3 million over alleged unreported foreign income
CBSN
The Justice Department is suing Trump's one-time campaign chairman Paul Manafort for nearly $3 million for allegedly failing to report his financial interest in foreign bank accounts between 2013 and 2014.
The lawsuit claims Manafort failed to fill out conventional "FBAR" reports required for all foreign bank balances over $10,000 a year, and his income tax returns did not reflect the existence of the overseas accounts in Cyprus, St. Vincent and the Grenadines, and the United Kingdom. The source of the unreported income, according to the lawsuit, was Manafort's consulting work in Ukraine with known associates Richard Gates and Konstantin Kilimnik.
"He owes the United States $2,321,797 for the willful FBAR penalty for 2013, plus interest and failure to pay penalty," the documents filed in Florida federal court allege. Additionally, the documents allege he owes $300,000 for the willful FBAR penalty for 2014, plus interest and a failure to pay penalty, for a total of $2,976,350.15.
