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- The federal government has officially listed a $3.66 million Manhattan loft once owned by former Trump campaign chairman Paul Manafort on the market, The New York Post reported Friday.
- The property, located on the fourth floor of 29 Howard Street in SoHo, is one of five properties in New York City and on Long Island previously belonging to Manafort that the federal government seized.
- Manafort was sentenced to seven-and-a-half years in prison in March after being convicted of and pleading guilty to multiple federal tax fraud, bank fraud, and conspiracy charges between two separate cases.
- In all, Manafort forfeited an estimated $22 million in real estate between the Howard Street loft, two other Manhattan apartments, a Brooklyn townhouse, and his Hamptons family vacation home.
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The federal government has officially listed a $3.66 million Manhattan loft once owned by former Trump campaign chairman Paul Manafort on the market, The New York Post reported Friday.
The property, located on the fourth floor of 29 Howard Street in SoHo, is one of five properties in New York City and on Long Island previously belonging to Manafort that the federal government seized after Manafort was convicted on an array of federal tax and bank fraud charges in August 2018.
In all, Manafort forfeited an estimated $22 million in real estate between the Howard Street loft, another property in nearby Little Italy last estimated to be worth $3.8 million, a $3.77 million brownstone in Brooklyn’s Carroll Gardens neighborhood, a $2.4 million apartment on the 43rd floor of Trump Tower, and his 5,574 square foot Hamptons family vacation home worth $8.9 million, according to estimates from Zillow.
Manafort was sentenced to seven-and-a-half years in prison in March after being convicted of and pleading guilty to multiple federal charges between two separate cases that unfolded as part of special counsel Robert Mueller’s investigation into Russian interference in the 2016 election.
Manafort was found guilty on eight federal counts of bank and tax fraud by a jury in Virginia. He also pleaded guilty to one count of conspiracy to obstruct justice and one count of conspiracy against the US in a case run out of the US Attorney’s office in Washington, DC.
Read more: Paul Manafort is set to be jailed at Rikers Island, where he could be placed in solitary confinement
In March, Manhattan District Attorney Cy Vance Jr. initiated a case that resulted in a grand jury indicting Manafort on 16 counts of fraud-related felony charges including mortgage fraud, falsifying business documents and conspiracy. He is expected to be jailed on New York’s Rikers Island this week to await arraignment.
In August, a Virginia jury found Manafort guilty of bank fraud related to his misrepresentation of the Howard Street apartment.
After purchasing the Howard Street property in 2012, prosecutors said, Manafort defrauded financial institutions by claiming it as a second home in order to receive a favorable loan from Citizens Bank, despite the fact that none of his family members lived there and he was actively renting it out on Airbnb.
In addition to his federal conviction, Manafort now faces residential mortgage fraud charges in New York state also stemming from his alleged misrepresentation of the property’s use, according to a charging document from the district attorney’s office.
Read more:
See Also:
- Paul Manafort is set to be jailed at Rikers Island, where he could be placed in solitary confinement
- Mueller says he won’t make any more public statements on the Russia probe, but his own words bolster the case for Democrats to have him testify before Congress
- William Barr just contradicted himself over a key claim he’s made about Mueller’s obstruction findings
Source: Business Insider – gpanetta@businessinsider.com (Grace Panetta)