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BIG NEWS in Robert Mueller ‘s case against Paul Manafort. According to the special counsels’ office, Paul Manafort is looking at some pretty hefty time in federal prison. The office confirmed that Manafort indeed is looking at about 24 years in federal prison, simply, only for one of his cases (that doesn’t include the others).
Manafort originally was facing about 19.5 years in prison, but then, prosecutors announced that he “should receive a sentence that reflects the seriousness of the crimes at hand”. He will also be hit with two $24m fines.
So here’s the breakdown of what he’s now facing:
*293 months in prison
*$24m fine
*Must forfeit about $4.4m to the government (property wise).
*Supervised probation after release
Here’s what we now know about his financial crimes:
While working for the Trump campaign (even before, and, after)…
*He earned upwards of $55m in income from overseas transactions. He failed to report such to the IRS
*Stateside he failed to report an additional $16M in income to the IRS
*He also got upwards of $25m fraudulently from banks (who are super pissed btw).
“Manafort did not commit these crimes out of necessity or hardship. He was well educated, professionally successful, and financially well off. He nonetheless cheated the United States Treasury and the public out of more than $6 million in taxes at a time when he had substantial resources. Manafort committed bank fraud to supplement his liquidity because his lavish spending exhausted his substantial cash resources when his overseas income dwindled,” prosecutors wrote in their announcement.
“In the end, Manafort acted for more than a decade as if he were above the law, and deprived the federal government and various financial institutions of millions of dollars. The sentence here should reflect the seriousness of these crimes, and serve to both deter Manafort and others from engaging in such conduct,” prosecutors wrote.
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