LONDON — Paul Manafort, a former campaign manager for President Donald Trump, has much stronger financial ties to a Russian oligarch than have been previously reported.
An NBC News investigation reveals that $26 million changed hands in the form of a loan between a company linked to Manafort and the oligarch, Oleg Deripaska, a billionaire with close ties to the Kremlin.
The loan brings the total of their known business dealings to around $60 million over the past decade, according to financial documents filed in Cyprus and the Cayman Islands.
Manafort was forced to resign from the Trump campaign in August 2016, following allegations of improper financial dealings, charges he has strenuously denied. He is now a central figure in special counsel Robert Mueller’s investigation into alleged collusion between the Trump campaign and Russia. Investigators have said they are looking into Manafort’s financial ties to prominent figures in Russia.
According to company documents obtained by NBC News in Cyprus, funds were sent from a company owned by Deripaska to entities linked to Manafort, registered in Cyprus.
Deripaska’s office did not respond to requests for comment.
Manafort’s spokesman, Jason Maloni, declined to give specific answers about the loans, but released a statement to NBC News saying, in part, “Mr. Manafort is not indebted to former clients today, nor was he at the time he began working for the Trump campaign.”
He later revised the statement, removing that sentence entirely. It now reads: “Recent news reports indicate Mr. Manafort was under surveillance before he joined the campaign and after he left the campaign. He has called for the U.S. Government to release any intercepts involving him and non-Americans in hopes of finally putting an end to these wild conspiracy theories. Mr. Manafort did not collude with the Russian government.”
Manafort and Maloni have received subpoenas from Mueller to supply documents and testimony in the case.
Deripaska was described in a 2006 U.S. diplomatic cable as “among the 2-3 oligarchs Putin turns to on a regular basis.”
NBC News reported in June that the business relationship between Deripaska and Manafort began in 2007. According to The Wall Street Journal, they worked together to further Russian interests in Georgia.
Manafort then went on to spend nearly a decade working as a consultant for a pro-Russian political party in Ukraine.
The NBC News investigation shows that $26 million was transferred from Oguster Management Ltd. — which is wholly owned by Deripaska, according to a disclosure filed at the Hong Kong Stock Exchange — to Yiakora Ventures Ltd. Yiakora, according to Cyprus financial documents, is a “related party” to Manafort’s many interests on the island, a financial term meaning that Manafort’s interests have significant influence over Yiakora.
