Manafort failed to list foreign accounts on tax returns, former accountant testifies
President Trump's former campaign chairman Paul Manafort entered the fourth day of his federal trial Friday, where he faced testimony from Philip Ayliff, his former accountant.
Ayliff testified that between 2010 and 2014, Manafort did not disclose foreign accounts and transactions that should have been reported in tax return documents, reports CBS News. The accountant said that he repeatedly asked about foreign dealings to factor them into taxable income reports, but that Manafort never reported any.
Prosecutors have accused Manafort of hiding millions of dollars from the IRS and lying to get bank loans. On Thursday, Manafort's bookkeeper testified that she didn't know anything about foreign bank accounts, while prosecutors said Manafort made $60 million working for the Ukrainian government.
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Tax return documents asked whether Manafort had any financial interest in overseas accounts, and each year Manafort marked "no," reports Buzzfeed News. He additionally told Ayliff "no" via email when asked about foreign dealings in 2011. Manafort also told the accountant to lie to a bank about tax deduction qualifications on two apartments that Manafort owned, Ayliff testified. Read more at CBS News.
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Summer Meza has worked at The Week since 2018, serving as a staff writer, a news writer and currently the deputy editor. As a proud news generalist, she edits everything from political punditry and science news to personal finance advice and film reviews. Summer has previously written for Newsweek and the Seattle Post-Intelligencer, covering national politics, transportation and the cannabis industry.
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