Manafort accused of amassing "secret income" at second day of trial

[iluvtennis]

https://www.cbsnews.com/news/paul-manafort-trial-bank-fraud-today-2018-08-01-live-updates/

"Oligarchs"
Judge T. S. Ellis III opened the second day of Paul Manafort's fraud trial by asking the prosecution to use another word for "oligarch." Ellis read aloud the definition of the word and opined that George Soros or David Koch could be considered oligarchs in the U.S. And "principals of middle schools are oligarchs in that sense," he said. Ellis offered "financiers" as a replacement.

While the prosecution tried to defend its use of the word, Ellis asked them to submit a brief. The case, Ellis told the prosecution, is about whether or not Paul Manafort defrauded banks or underreported his income for tax purposes. He said that the case that Manafort associated with despicable people and "therefore is despicable" would not be the case that was tried in his court.

Cyprus accounts used for homes, contracting, expensive clothing
On Wednesday afternoon, the government sought to establish that Manafort was paying for his family's extravagant lifestyle with wire transfers from Cyprus, a tax haven where Manafort is alleged to have had bank accounts while he was working in Ukraine. Daniel Opsut, the comptroller of the Mercedes Benz of Alexandria, Virginia, verified promissory notes and wire transfers originating in Nicosia, Cyprus, that had been applied on behalf of Manafort's wife, Kathleen Manafort.

Manafort's neighbor, Wayne Holland, testified, too. The contractor, who also has a real estate license, has known Manafort for 30 years. Holland helped Manafort's daughter, Andrea, purchase her home in Alexandria for $1,899,000 -- paid by wire from Lucicle LLC, a company associated with the Cyprus accounts.

Steve Jacobsen, the owner of S,P&C Home Improvement, then testified. Several wire transfers and invoices for work he did on Manafort's homes in Bridgehampton and other properties, including Trump Tower, came from companies located in Cyprus associated with Manafort.


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[OneBro]

1. Not impressed by Manafort's lavish spending.

Manafort's poor fashion sense aside, I'm wholly unimpressed with all the evidence about his spending habits. The judge and jury aren't going to convict him for spending money lavishly. Hopefully the prosecution will start tying in the wire transfers with the tax evasion charges. Seems pretty straight forward if he didn't report any of the monies that were wired to him from overseas. What isn't clear is whether the funds were coming out of his own accounts vs. from a 3rd party.

I'm surprised the judge pushed them to rush jury selection. https://www.politico.com/story/2018/08/01/manafort-trial-judge-ellis-757141. Manafort only needs one dedicated Trump supporter to nullify the case no matter what the evidence, so when selection is rushed the chances are higher for just such a person to slip through.

I haven't followed the trial too closely but I've read a few articles. I don't see how a prosecution win would hurt Trump (I get that the case is not about Trump), but republicans would sure as hell get a lot of mileage out of a defense verdict.

One thing is crystal clear, though: people like Trump and Manafort sold America out to Russia for peanuts on the dollar.

[iluvtennis]

2. Like you, don't care what Manafort spent his money. I want the evidence that he didn't pay taxes on

that $60 million and his ass put in jail for tax evasion.

This Manafort trial frightens Trump cuz like Manafort, Trump is a dirty dealing/corrupt business man. That's why we haven't seen those tax returns -- guarantee there is tax evasion