Paul Manafort’s LA properties play role in federal trial

Former campaign manager’s 4 properties total $20M, including Bel Air, Bird Streets

TRD LOS ANGELES /
Aug.August 20, 2018 03:00 PM
Manafort and the 779 Stradella Road (Credit: Getty Images)

As the jury in Paul Manafort’s federal trial deliberates, it is likely spending part of its time discussing the former Trump campaign manager’s Los Angeles real estate purchases.

Four L.A. properties were part of the alleged scheme orchestrated by Manafort, who is facing 18 federal counts for financial crimes, including tax evasion and bank fraud. The case is part of special counsel Robert Mueller’s investigation into Russian interference in the 2016 presidential election.

The properties include 2.6 acres of land on Nottingham Avenue and a house at 2401 Nottingham Avenue in Los Feliz, 1550 Blue Jay Way in the Bird Streets, and 779 Stradella Road in Bel Air, according to the Los Feliz Ledger.

Manafort allegedly lied on financial documents to obtain mortgages for those properties and evade taxes.

They are the same properties that were placed in bankruptcy last year. Manafort bought them together with his former son-in-law, Jeffrey Yohai, for a total of around $20 million. Two other properties in New York are also part of the indictment. 

Both Los Feliz properties were released from bankruptcy last year and one has since been sold twice, most recently for $8.5 million in June. In February, after indicting Manafort for his alleged financial crimes, Mueller filed new charges against Manafort and his business partner Rick Gates for not disclosing a 2016 loan during the bankruptcy proceedings that allowed him to sell the property and refinance a townhome in Brooklyn.

Manafort secured that loan from Genesis Capital LLC, a firm now owned by Goldman Sachs. It was the top creditor for the four properties during the bankruptcy proceedings, according to Reuters. Mueller has reportedly started to focus more heavily on Manafort’s activity in California.

The jury in Paul Manafort’s federal trial entered its third day of deliberations on Monday.


Related Articles

arrow_forward_ios
Ardie Tavangarian and Elon Musk (Credit: Noam Galai and Saul Martinez, via Getty Images)

Developer Ardie Tavangarian buys four homes from Elon Musk

Developer Ardie Tavangarian buys four homes from Elon Musk
Elon Musk and the home (Credit: Pascal Le Segretain/Getty Images and Sotheby's via Money.com)

One down, six to go: Elon Musk sells Bel Air mansion for $29M

One down, six to go: Elon Musk sells Bel Air mansion for $29M
Gary Gold, Paul George, Deandre Jordan, Jeff Bezos, and Garrett Camp (Credit: Getty Images, Flickr, Hilton & Hyland, Google Maps, Realtor, Pinterest, and iStock)

Long live NAR: Agents won’t defy powerful trade group in pocket listings spat

Long live NAR: Agents won’t defy powerful trade group in pocket listings spat
3 of the priciest homes to close last week (Credit: Google Maps)

LA luxury homes sales dipped last week

LA luxury homes sales dipped last week
Travis Kalanick (Credit: Justin Sullivan/Getty Images)

Travis Kalanick behind $43M Bel Air purchase

Travis Kalanick behind $43M Bel Air purchase
Elon Musk and the two homes (Credit: Google Maps and Jörg Carstensen/picture alliance via Getty Images)

Elon Musk lists Bel Air properties after tweeting: “Will own no house”

Elon Musk lists Bel Air properties after tweeting: “Will own no house”
Robert Shapiro and the home (Credit: Viewpoint Collection and Google Maps)

Bel Air property once owned by convicted Ponzi schemer Robert Shapiro sells for $60M

Bel Air property once owned by convicted Ponzi schemer Robert Shapiro sells for $60M
Mitchell Englander in front of L.A. City Hall (Credit: Lilly Lawrence/Getty Images, and iStock)

Ex-LA council member surrenders to FBI in real estate probe

Ex-LA council member surrenders to FBI in real estate probe
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...