A look at Paul Manafort trial until August 9: Key takeaways

A look at Paul Manafort trial until August 9: Key takeaways

 
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LEXANDRIA, Va.(TIP):  Over the course of eight days, Paul Manafort’s criminal-fraud
 trial has featured testimony about extravagant wardrobes, secret 
offshore bank accounts, fake loan applications and doctored bank 
accounts, an ostrich jacket and a fall from wealth, a USA Today report 
says.

The newspaper has listed certain takeaways from the trial until now.

The trial has attracted packed galleries
 to the federal courthouse each day, with U.S. District Court Judge T.S.
 Ellis III setting a pretty brisk pace for the proceedings, the first 
case to come to trial as part of special counsel Robert Mueller’s 
investigation.

The prosecution is expected to rest its case against President Donald Trump‘s
 former campaign manager as soon as Friday, the ninth day of the trial. 
As Manafort’s defense team gets ready to take over, here are some key 
takeaways:

Prosecutors have offered substantial 
evidence from documents and witnesses saying Manafort and his business 
partner Rick Gates – who is testifying under a grant of immunity – 
established a web of secret offshore accounts, based mostly in Cyprus. 
Prosecutors allege they stashed and moved millions of dollars in 
unreported income to the U.S. to support Manafort’s extravagant 
lifestyle.

An IRS revenue agent testified that, 
between 2010 and 2014, Manafort moved $16.4 million in untaxed income 
into the U.S. to pay bills for high-end clothing, cars and real estate.

As Manafort’s lucrative consulting 
business in Ukraine began to dry up, his pursuit of bank loans took off.
 The government showed how Gates – at Manafort’s direction – dummied 
documents to support the loan applications. Prosecutors said the 
applications were full of fraudulent claims, including classifying a 
rental property as a second home, and a failure to disclose an existing 
mortgage on other property. In addition, Manafort’s income was allegedly
 inflated by as much as $4 million in documents submitted to the Bank of
 California, they said.

Gates’ admission that he embezzled 
hundreds of thousands of dollars from Manafort came as a surprise and 
only raised more questions about his damaged character. But the 
government has a possible back-up: much of what is alleged against 
Manafort is contained in emails and bank documents.

Ellis, known for his wit and his 
impatience, has set a torrid pace in the Virginia courtroom. That could 
present a double-edged sword for the jury of six men and six women. Is 
testimony coming at the jury too fast for the six men and six women to 
grasp a complex white-collar case involving complicated international 
financial dealings? Or does the speed benefit the government by saving 
the jury from hours of dry testimony about incremental financial 
transactions?





   







Right now, the defense is a big question
 mark. Lead Manafort attorney Kevin Downing engaged in an aggressive 
effort to discredit Gates, pointing out how he stole from his former 
boss to pay for the expenses of a mistress in London. But their 
questioning of other government witnesses has been uneven and spare. Now
 it’s their turn to present their case.




Source:https://www.theindianpanorama.news/unitedstates/a-look-at-paul-manafort-trial-until-august-9-key-takeaways/

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