Paul Manafort Caught Laundering $18M To Fund 'Lavish Lifestyle'

Oct. 31 2017, Updated 5:44 p.m. ET

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President Donald Trump's former campaign chair, Paul Manafort, 68, faces a maximum of 80 years in prison after having allegedly "laundered" $18 million to fund his "lavish lifestyle."

According to special counsel Robert Mueller's indictment unsealed Monday, Manafort hid millions in foreign tax locations such as Cyprus, Saint Vincent & the Grenadines, and the Seychelles. He purchased lavish properties there with his laundered money and used the rest of it "to enjoy a lavish lifestyle in the United States, without paying taxes on that income."

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According to the Daily Mail, the former politician spent "millions" in luxury goods and mansions for him and his family.

If he is found guilty of his crimes, he will lose all his assets and spend up to eight decades behind bars.

As previously reported, Manfort and coworker Rick Gates pled not guilty to conspiring against the United States, along with 11 other charges they were initially accused of.

The two were indicted on 12 counts by a federal grand jury in Washington D.C Russian probe and potential collusion with Trump campaign officials in the 2016 presidential election.

They both agreed to home detention for their crimes, before the news about Manafort broke this Tuesday morning.

A long list of Manafort's properties and transactions has been released. In it, it is evident that the former Trump aide purchased mansions overseas in order to take out loans and use them to fund his and his family's lifestyles.

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Prosecutors have said that if Manafort is convicted, he will have to forfeit property in Brooklyn, Arlington Virginia, and New York – where he has two homes. He will also have to give up his life insurance policy.

According to investigators, Manafort purchased properties worth $15 million since 2006. He then went on to purchase, rent and resale many others around the world. Non-surprisingly, in 2006 he also allegedly signed a $10 million-a-year contract with Russian oligarch Oleg Deripaska.

As Radar reported, the former campaign chair admitted to having hidden vital information about the Russian government from the FBI.  He reportedly knew he would be charged since the summer.

Now, it seems, Paul Manafort is at risk of losing it all.

Stay with Radar for updates.

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