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Money-Laundering Probe Reportedly Targeted Manafort-Linked Accounts in Cyprus

Cyprus bank reportedly probed Trump manager’s account for money-laundering.

Financial accounts in Cyprus linked to Paul Manafort, President Trump’s former campaign chairman, were probed for possible money-laundering, NBC News reported. The Mediterranean island nation has been a well-known hub for transferring money in and out of Russia. Manafort’s past is under intense scrutiny, in part, over his ties to a Russian oligarch who has a close relationship with President Vladimir Putin. The former campaign operative was at one time associated with more than 15 bank accounts and 10 companies in Cyprus, and one of those companies, NBC News reports, was used to receive large sums of money from an ally of Putin. Such transactions triggered an internal investigation at the Cypriot bank, but Manafort closed the accounts after questions were raised. Manafort’s spokesman told NBC News that all the accounts were set up in Cyprus at the direction of clients “for a legitimate business purpose,” adding: “All were legitimate entities and established for lawful ends.”