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Paul Manafort trial: Prosecutors say evidence of crimes is 'overwhelming'

Paul Manafort's false statements sometimes bordered on the 'absurd,' federal prosecutor Greg Andres alleged in his closing argument.
Credit: Drew Angerer/Getty Images
Paul Manafort, former campaign manager for Donald Trump, exits the E. Barrett Prettyman Federal Courthouse, February 28, 2018 in Washington, DC.

ALEXANDRIA, Va. (AP) — In a final appeal to a federal court jury in Paul Manafort’s financial fraud trial, prosecutors cast the former Trump campaign chairman as a serial “liar” in a years-long scheme to hide millions of dollars in 31 foreign bank accounts and obtain millions more in a series of fraudulent bank loans.

Over nearly two hours, prosecutor Greg Andres guided jurors through 10 days of government testimony, highlighting the alleged tax and loan fraud, the foundation of 18 criminal counts lodged against Manafort.

"The evidence in this case is overwhelming," Andres said during the government's closing argument Wednesday, asking the jury to return a verdict of "guilty on all charges."

Manafort faces 18 criminal counts of bank fraud and tax evasion. If found guilty on all counts, he could spend the rest of his life behind bars. His attorneys, who rested their case without calling any witnesses Tuesday, are expected to present their final argument Wednesday.

Flashing excerpts from a detailed paper trail unearthed by investigators in the case, Andres highlighted bank loan applications and financial ledgers used to secure more than $20 million in loans as “littered with lies.”

“Mr. Manafort lied to keep more money when he had it,” Andres said. “And he lied to get more money when he didn’t.”

Manafort’s false statements, the prosecutor asserted, sometimes bordered on the “absurd.”

While seeking a $3.4 million loan in 2016 from Citizens Bank, loan officers seized on a $1.5 million loan entry on Manafort’s books. Because of the debt, bank officials told Manafort that he needed to show additional income.

At Manafort’s urging, longtime partner Rick Gates was asked to falsify a letter indicating the loan had been “forgiven” and could be re-classified as income, helping Manafort qualify for the $3.4 million Citizen Bank loan.

“Poof!” Andres told the jury.

Anticipating that the defense will likely focus its argument on the credibility of Gates, the government’s star witness, Andres said documents largely backed up the witness’ assertions that Manafort had both hid his money from tax authorities and falsified loan applications.

Gates pleaded guilty earlier this year to conspiracy and lying to the FBI as part of a deal requiring him to testify against Manafort.

Describing his role in falsifying loan documents in 2016, Gates told the jury last week that Manafort asked him to lie about borrowing Manafort’s American Express credit card to purchase 2016 season tickets to the New York Yankees at a cost of $210,000. A Yankee official later testified and offered documents showing that Manafort was actually involved in the transaction.

“You can believe and trust in the testimony of Mr. Gates,” Andres said.

Andres called the jury’s attention to one 2016 application for $16 million in loans in which Manafort allegedly over-stated his income by $4 million during a year when his political consulting business earned no money.

“If you have any doubt whether Mr. Manafort is guilty of bank fraud, look at this exhibit,” Andres said, referring to the inflated income submitted to the Federal Savings Bank in Chicago.

As part of a separate scheme, Andres said Manafort used the 31 bank accounts based in Cyprus, the Grenadines and the United Kingdom to shield more than $15.5 million from tax authorities.

Andres said the money was later funneled to the United States to finance the purchases of homes, luxury cars and racks of custom clothes, propping up a stunningly extravagant lifestyle.

“Mr. Manafort lied on his tax returns not for one year, but for five,” Andres said from a podium facing the jury.

“He lied to his bookkeepers and he lied to his tax accountants to evade taxes,” the prosecutor said in a packed courtroom.

“We’re not in this courtroom not because Mr. Manafort is wealthy,” Andres said. “We are in this courtroom today because Mr. Manafort filed false tax returns.”

Manafort showed no emotion as Andres pressed his case. His wife, Kathleen, was seated in her usual spot in the first row of the gallery appearing to follow the argument closely.

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