Gates Admits Embezzling From Manafort, Helping Hide Fraud

08 August, 2018, 00:40 | Author: Genevieve Gibbs
  • Donald Trump campaign aide Rick Gates departs after a status conference at the U.S. District Court following his indictment on tax fraud and money laundering charges in the special counsel's investigation into allege

Gates, 46, is already facing up to five years in prison under the terms of a plea deal he struck with prosecutors in February when he pleaded guilty to two charges of conspiracy and lying to the Federal Bureau of Investigation.

Prosecutors will turn to Gates for first-hand support of their accusations that Manafort concealed millions of dollars in foreign income and later lied when he applied for bank loans.

Gates also testified about how wealthy Ukrainian businessmen paid Manafort millions of dollars for his political services through wire transfers to Cyprus-based accounts that were set up for Manafort by a lawyer and local politician known as "Dr. K". They were the first two people indicted by Mueller's grand jury.

The charges largely predate his five months on the Trump campaign but were the first to go to trial arising from Special Counsel Robert Mueller's investigation into Russian interference in the 2016 USA election. His case is the first to go to trial arising from Special Counsel Robert Mueller's investigation into Russian interference in the 2016 USA election. Manafort, 69, has pleaded not guilty to 18 counts of bank fraud, tax fraud and failing to disclose foreign bank accounts containing tens of millions of dollars earned from work for Russian-backed politicians in Ukraine. They said Mr. Gates did everything from approve expense reimbursements to draft business plans.

Gates began working for Manafort in 2006 on his business ventures in Ukraine.

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Gates admitted that at Manafort's behest, they later created a loan agreement for Lyovochkin's payment, though no loan existed.

Gates - who served on the 2016 Trump presidential campaign with Mr Manafort - told the court he had stolen from other employers, too. President Trump has previously spoken of the Mueller investigation, referring to it as a "witch-hunt", and reiterating that Manafort only worked for his campaign for a few months.

Kerik said that Gates' testimony is the result of a deal Gates made to save himself, and that his freedom is contingent on being able to help Mueller convict Manafort.

Speaking at Manafort's trial late that afternoon, Gates bluntly answered the prosecutor's questions.

All told, prosecutors allege that Manafort failed to report a "significant percentage" of the more than $60 million they say he received from Ukrainians.

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In stunning testimony at Manafort's trial on tax and fraud charges, Gates stated he and Manafort had 15 foreign accounts they did not report to the federal government, and knew it was illegal.

During the testimony, Manafort did not stare Gates down as he did on Monday.

Gates is the prosecution's star witness after he cut a plea deal this year and admitted two felony charges. Manafort then paid Gates out of Cryprus-based bank accounts illegally concealed from the U.S. government, Gates testified, according to CNN crime and justice reporter Shimon Prokupecz. Laporta testified that she saw no evidence that the loan was ever repaid. Later, they say, when that income dwindled, Manafort launched a different scheme, shoring up his struggling finances by using doctored documents to obtain millions more in bank loans.

"There were no FBARs in FinCEN's system of record", Liss said, indicating that Manafort and his tax preparers did not disclose any of the more than 30 bank accounts owned by his offshore shell companies to the IRS on his tax returns.

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