Oligarch sues former Trump aide Paul Manafort for lost millions

Paul Manafort is accused of using a Russian firm’s investment funds as a “personal piggy bank”

U.S. President Donald Trump's former campaign manager Paul Manafort faced a new legal headache on Wednesday after a Cyprus-based company tied to a Russian oligarch sued him and his business partner Richard Gates over allegations they committed financial fraud by misappropriating millions of dollars.

Surf Horizon Limited, a Cyprus-based company with ties to Oleg Deripaska, accused Mr Manafort and his business partner, Richard Gates, of misappropriating almost $19 million which it had invested in Ukrainian telecoms companies.

Russian billionaire Oleg Deripaska's Surf Horizon Ltd. has filed a suit in New York State court against Paul Manafort and Rick Gates, a spokesperson for the Russian businessman told Interfax.

Oleg Deripaska was once Russia’s richest man
Oleg Deripaska was once Russia’s richest manPAUL ROGERS FOR THE TIMES

In August 2015, the company also filed a parallel case in the U.S. District Court for the Eastern District of Virginia, seeking documents and depositions in connection with the alleged missing money. Both men were charged with 12 federal counts, including conspiracy against the USA, conspiracy to launder money, and being an unregistered agent of a foreign principal, among others. Gates could not be reached for comment, according to the Post. Deripaska is claiming that Manafort and Gates bilked his company for $1.1 million - and is using Robert Mueller's indictment against them as further evidence that the two are fraudsters. "He's extremely close to the Kremlin, or at least he was".

Deripaska has previously been under scrutiny for his relationship with Manafort. Deripaska had earlier brought a similar proceeding in the Cayman Islands.

"We are surprised by this filing", said Jason Maloni, president of public relations firm JadeRoq and a spokesman for Manafort. "This is a commercial matter which we thought had been addressed and resolved years ago".

Domino's Pizza, Inc. (NYSE:DPZ) CFO Sells $3142790.00 in Stock
Fulton Retail Bank Na invested in 2,323 shares. 103 funds opened positions while 495 raised stakes. (NYSE:DPZ) for 1,150 shares. It fall, as 39 investors sold DPZ shares while 105 reduced holdings. 46 funds opened positions while 152 raised stakes.

Related:

  • Trump will QUIT nuclear deal unless flaws are fixed — IRAN'S LAST CHANCE

    Trump will QUIT nuclear deal unless flaws are fixed — IRAN'S LAST CHANCE

    But Trump said that if European allies did not renegotiate the deal to his liking during that period, he would terminate it. In Tehran, Iranian Foreign Minister Javad Zarif condemned Trump for "maliciously violating" the nuclear agreement .
    Africa a priority in China's diplomacy: Chinese FM

    Africa a priority in China's diplomacy: Chinese FM

    Wang, who is in Africa for his first New Year trip, is scheduled to visit Angola, Gabon and Sao Tome and Principe after Rwanda. Chinese Foreign Minister Wang Yi begins his multi-nation trip to Africa with a stop in Rwanda.
    PadMan's Success Can't Be Defined By Its Box-Office Collection: Akshay Kumar

    PadMan's Success Can't Be Defined By Its Box-Office Collection: Akshay Kumar

    PadMan is based on the life of entrepreneur Arunachalam Muruganantham, who invented a low-priced sanitary pad making machine. PadMan is a touted to be Bollywood's first film, which addresses the need of creating awareness about menstrual hygiene.
  • Australian Open shaping up as survival of fittest

    Australian Open shaping up as survival of fittest

    There are three main questions that engulf the men's draw at this year's Australian Open . "Everyone wants to win a Grand Slam". Jelena Ostapenko and Sloane Stephens won at the French Open and US Open in 2017 with the dominant Serena missing in action.

    FedEx (FDX) Rating Reiterated by Credit Suisse Group

    Following the transaction, the executive vice president now directly owns 187,025 shares in the company, valued at $46,892,778.25. Heslam increased its stake in Fedex Corporation (FDX) by 9.72% based on its latest 2017Q3 regulatory filing with the SEC.

    Sentiment Report: Symantec Corp (NASDAQ:SYMC)

    Barclays reaffirmed a "buy" rating and issued a $36.00 price target on shares of Symantec in a report on Thursday, November 2nd. Ascend Capital Llc increased Citigroup Inc (NYSE:C) stake by 97,972 shares to 131,949 valued at $9.60 million in 2017Q3.
  • Antonio Conte insists Michy Batshuayi can have a good future

    Antonio Conte insists Michy Batshuayi can have a good future

    Should Liverpool beat City, they will move level on points with the Blues and into third thanks to a superior goal difference. But misplaced passes and lapses of concentration littered Chelsea's play.
    LSU Names Steve Ensminger Their New Offensive Coordinator

    LSU Names Steve Ensminger Their New Offensive Coordinator

    Ensminger is replacing Matt Canada, who has parted ways with the team after only 12-months and a mutual financial agreement. He got choked up when he started to talk about playing quarterback in Tiger Stadium for Coach Charlie Mack.

    Private Advisor Group LLC Buys 3505 Shares of NextEra Energy Inc (NEE)

    The utilities provider reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.08. It increased, as 33 investors sold BSX shares while 166 reduced holdings. 106 funds opened positions while 696 raised stakes.
  • Arsenal boss Wenger: Alexis only sold once replacement signed

    Arsenal boss Wenger: Alexis only sold once replacement signed

    That would be ridiculous. "If you anticipate the transfer market you become stronger and you make the other team weak". Sell him to City. "No, because if Manchester City want Sanchez, they buy Sanchez", said the Italian.
    Jill Zarin's husband Bobby dies of cancer at 71

    Jill Zarin's husband Bobby dies of cancer at 71

    In her final interview with the magazine before her husband's passing, she said, "We're hoping for a miracle". Most recently, in November 2016, Jill told fans that her husband had a malignant brain tumor.
    Cosmos Renewed for Season 2 at Fox and NatGeo, Premiering in 2019

    Cosmos Renewed for Season 2 at Fox and NatGeo, Premiering in 2019

    Druyan, MacFarlane, Braga and Jason Clark executive-produce. Neil deGrasse Tyson is officially returning to the Cosmos . Don't expect a carbon copy of A SpaceTime Odyssey , then.

Comments

Latest news

$451M Mega Millions jackpot victor is a 20-year-old from Florida
The $450 million prize marked the fourth-largest in Mega Millions history and the 11th-largest jackpot in USA history. He selected to receive the prize in a single lump-sum payment of nearly $282 million.

Maryland transportation exec accused of bribing Russian official
Lambert denies the allegations and plans to fight them in court, his attorney William Sullivan said during a pre-trial hearing. Mikerin pleaded guilty to conspiracy to violate the FCPA to commit money laundering, and is now serving a 48-month sentence.

Tom Hanks and Meryl Streep are brilliant in Spielberg's news drama
Sarah Paulson, who plays Tony, Ben's wife, is in the film for this one dialogue but it is an important one at a crucial juncture. Graham reminds him of his close friendship with the Kennedys, and how that compromised Bradlee's journalistic integrity.

Ministers should speak up like judges: BJP leader Yashwant Sinha
He further added that people would be failing in their national duty if they did not take note of this. That's an institution of democracy where debates and discussions are supposed to take place.

Haiti wants clarification on Trump's comments, says ambassador
He is also a design engineer in the defense industry and a Haitian immigrant who says the portrayal of his country is offensive. Trump tweeted Friday morning: " The language used by me at the DACA meeting was tough, but this was not the language used .

N-deal with major powers 'in no way renegotiable'
America's allies see the accord as the best way to thwart Iran's nuclear ambitions and a victory for multilateral diplomacy. The other parties to the agreement would have been unlikely to join the United States in reimposing sanctions.

India vs South Africa: Host to bat first in second Test
Then Vernon Philander went aimlessly about for a run in spite of Du Plessis shouting himself hoarse with "no, no". But the curator reduced the greenish part of the wicket, giving Ashwin the chance to play the match.

Avery Dennison Corporation (AVY) VP Sells $8237785.40 in Stock
It is negative, as 34 investors sold AVY shares while 167 reduced holdings. 79 funds opened positions while 214 raised stakes. Argent Capital Management Llc decreased Universal Forest Products Inc (UFPI) stake by 61.94% reported in 2017Q3 SEC filing.

Five People Missing After California Mudslides; Thomas Fire Finally Out
Active searches are underway as rain continues to fall from a huge winter storm that has soaked much of the state. She continued the emotive story while pictures of the destruction wreaked by the mudslides was shown behind her.

NINE MASTS CAPITAL Ltd Takes Position in United Parcel Service, Inc. (UPS)
First Long Island Investors Llc increased United Parcel Service Inc Cl B (UPS) stake by 5.15% reported in 2017Q3 SEC filing. State of Tennessee Treasury Department grew its position in shares of United Parcel Service by 11.2% in the 3rd quarter.

Anheuser Busch Inbev (BUD) Receiving Somewhat Favorable Media Coverage, Study Finds
Moreover, Edge Wealth Management Limited Liability Corp has 0% invested in Anheuser-Busch InBev SA/NV (NYSE:BUD) for 100 shares. It is positive, as 30 investors sold BUD shares while 138 reduced holdings. 63 funds opened positions while 151 raised stakes.

Are Analysts Bearish Shaftesbury PLC (LON:SHB) After Last Week?
It distributes its products and solutions directly to institutions; and to private investors through a network of intermediaries. The Clarkston Capital Partners Llc holds 9.04 million shares with $173.66M value, up from 8.47 million last quarter.

Donald Trump repeatedly called African nations 'shitholes,' senator says
He has also considered recording all his meetings to prevent similar controversies in the future. The news drew rapid and global backlash-the latest coming from The Wilkie D.

Henrikh Mkhitaryan open to joining Borussia Dortmund in January
Mourinho has admitted that Manchester United can not buy their way to the title because Manchester City's lead is too big. I don't think it's about the transfer window for us, or the other teams close to us".

Pacific Gas & Electric Co (NYSE:PCG) Quarterly Sentiment Change Report
The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $66.20. Mckinley Capital Management Inc sold 14,796 shares as the company's stock declined 8.97% while stock markets rallied.

Other news