(CNN) Paul Manafort has agreed to pay the US government $3.15 million he owes for misrepresenting his tax returns nearly a decade ago, ending the former Trump campaign chairman’s financial entanglements in court.
Manafort had failed to disclose to the Treasury nearly two dozen bank accounts in Cyprus, Saint Vincent and the Grenadines and the United Kingdom that he used for his political consulting deals in Ukraine in 2013 and 2014, according to court filings.
The offshore accounts held tens of thousands of dollars, making it necessary for him to report them to the IRS. But on his tax returns, Manafort said he had no foreign bank accounts.
Manafort later admitted not disclosing the accounts as part of his guilty plea to a variety of financial and tax crimes in the Mueller investigation. He was pardoned by then-President Trump in late 2020, again bypassing some of the repayment requirements.
The Justice Department sued Manafort last April “to recover outstanding civil penalties … for his willful failure to timely report his financial interests in foreign bank accounts,” court filings said. The DOJ also sought interest and late payment fees from Manafort.
“As part of the settlement, Mr. Manafort has consented to a full judgment with accrued interest in this case,” his attorneys and the Justice Department told the court in late February. Judge Rodolfo Ruiz II of the Southern District of Florida federal court approved the settlement the next day.
Yet the amount represents only a fraction of Manafort’s financial crimes.
The Florida Bulldog was the first to report the settlement.
CORRECTION: This story has been updated to reflect that the Florida Bulldog was the first to report the details of the settlement.