• Register
Return to: Home > News > Advisory > Trump campaign manager Manafort found guilty of tax evasion

Trump campaign manager Manafort found guilty of tax evasion

Donald Trump’s former campaign manager Paul Manafort has been convicted on five counts of tax evasion.

Manafort was also convicted on two counts of bank fraud and one count of hiding a foreign bank account.  A mistrial was declared for 10 other charges as the jury could not reach a unanimous verdict.

Earlier this month Manafort’s former accountant, Cindy Laporta, admitted to manipulating tax returns for Manafort due to him being a long standing client of the firm she worked for, Kositzka Wicks and Company (KWC).

Laporta manipulated Manafort’s consulting company’s accounts by listing $900,000 as a loan. The creation of the loan hid the amount of income Manafort received which in turn reduced the amount he was liable to pay for his 2014 tax bill.

Despite suspecting the loan was fake, Laporta was involved in another plan which included $1m in suspicious loans.

Manafort and Rick Gates, Trumps’ deputy campaign manager under Manafort, urged Laporta to send documents, which she believed false, forgiving the previously booked loans to a bank which Manafort was applying for a mortgage loan from.

Laporta was given immunity, alongside four other witnesses, to testify against Manafort as she reportedly feared being charged with perjury.

The charges mean that Manafort could be sentenced to spend the rest of his life in prison.  He will also face a further trial which is being led by the Robert Mueller investigation in regards to possible collusion between the Trump Campaign and Russian state.

Earlier in the trial, Trump tweeted in defence of Manafort: “Looking back on History, who was treated worse, Alfonse [SIC] Capone, legendary mob boss, killer and “Public Enemy Number One,” or Paul Manafort, political operative & Reagan/Dole darling, now serving solitary confinement – although convicted of nothing? Where is the Russian Collusion?”

Top Content

    Blockchain and the Big Four: does it deserve all the hype?

    Although still in its infancy, blockchain is one of the most talked-about technologies of 2018. Will the blockchain bubble burst, or will it live up to its reputation as the ‘new internet’? Eleanor Jerome investigates

    read more

    Malaysia: Ready to show its strength

    Recent changes have enhanced the quality of audit reports in Malaysia, giving the profession a welcome opportunity to demonstrate its value to clients. Paul Golden reports

    read more

    China: Regulating the Chinese dragon

    Harsh regulatory actions and looming US trade wars have been dampening expectations in a Chinese market still full of potential, finds Jonathan Minter

    read more

    Indigenous Australians: New checks and balances

    With fewer than 40 known qualified Indigenous Australian accountants, Jonathan Minter speaks to Shelley Cable from PwC Australia about how increasing this number is an important part of improving the financial literacy of Indigenous communities

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.