All The Properties Paul Manafort Had To Forfeit As Part Of His Plea Deal

On Friday, Paul Manafort joined the growing list of former Trump associates who have entered plea agreements with special counsel Robert Mueller’s team.

The Republican political adviser and foreign lobbyist pleaded guilty to two counts–one for conspiring to defraud the federal government and one for conspiring to obstruct justice.  

Manafort was convicted last month in Virginia of eight charges centered on tax and bank fraud. Before the plea deal, his second trial was scheduled for the coming weeks in Washington, D.C. The plea came so late that attorneys were already beginning the jury selection process. 

The agreement says that Manafort must fully cooperate with federal prosecutors in “any and all matters as to which the Government deems the cooperation relevant."

In addition Manafort, who once funded a lavish lifestyle in expensive homes and high-rise apartments by funneling millions of dollars through various offshore bank accounts must give it all up, down to his extravagant jackets, including one in Ostrich leather that he paid $15,000 for. 

The agreement lists an estimated $22 million worth of property in New York that Manafort will have to forfeit. More than $6 million of that total was paid for in cash. 

A 5,564-square-foot Hamptons estate on Long Island was among the most expensive and largest homes Manafort forfeited. Valued at more than $7 million, according to online estimates, the sprawling mansion includes 10 bedrooms, six bathrooms, a swimming pool, a tennis court, a basketball court and a chipping green that even has a bunker.

 

He will also have to forfeit two apartments worth more than $4 million and $3 million located in Manhattan’s SoHo neighborhood, a $3 million condo in Trump Tower and a $4 million Brooklyn home in Carroll Gardens.

 

Mentioned in the court documents was a trade off that Manafort made with federal prosecutors regarding his Trump Tower condo. In exchange for keeping one of his bank accounts and the contents within it, Manafort gave up the condo.  

All of Manafort’s properties will eventually be put up for sale through government auctions. Not part of his forfeitures, Manafort reportedly owns at least three other properties in Northern Virginia and Palm Beach, Florida.

On top of the millions of dollars worth of luxury apartments and homes, Manafort was also forced to forfeit money he had in three of his bank accounts and a life insurance policy. In all, Manafort had to give up an estimated $46 million in assets between the homes and bank accounts

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