Manafort Created Shell Co. The Day He Left Campaign To Borrow Millions From Trump-Connected Organizations
In a bombshell new report, the New York Times reported Wednesday that Manafort borrowed $13 million from Trump-connected leaders through a shell company he formed the day he left the Trump campaign.
According to the New York Times report, on the same day that Manafort stepped down from the Donald Trump campaign, “Papers were recorded that same day creating a shell company controlled by Mr. Manafort that soon received $13 million in loans from two businesses with ties to Mr. Trump, including one that partners with a Ukrainian-born billionaire and another led by a Trump economic adviser.”
The news comes on the same day that the Associated Press reported that Paul Manafort would register with the Justice Department as a foreign agent for work he did on behalf of pro-Russian organizations. And in a separate report, the AP also reported that financial records confirm that Manafort received payments corresponding to the “off the books” Ukrainian ledger that the pro-Russian former president of Ukraine left behind when he fled the country.
The New York Times also reported that Manafort borrowed $3.5 million in September from a small private firm that is connected to a Ukrainian billionaire Alexander Rovt who made his fortune in the fertilizer business in Ukraine. And as the New York Times noted, “Mr. Rovt is a financial backer of Spruce, whose co-founder, Joshua Crane, has been a developer of Trump hotel projects.”
Manafort received another loan for $9.5 million from a bank run by Stephen Calk who was a senior economic adviser to Donald Trump at the time.
You can read the full report here.
