• Manafort wants to use Florida home to end house arrest

    By: Mike Stucka, Palm Beach Post

    Updated:

    Paul Manafort wants to pledge his Palm Beach Gardens home to free him from house arrest in Virginia.

    In a motion filed Saturday, the former manager of Donald Trump’s presidential campaign says his $1.5 million St. James Drive home should be used as part of a $12.5 million package to get him off house arrest and allow him to travel back to Florida or several other places in the United States where he works or lives.

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    Federal officials are scheduled to file a response to the bail motion by Sunday evening. There is no indication in court records whether prosecutors will claim Manafort’s Palm Beach Gardens home, or the other properties, were proceeds of crime.

    Manafort is accused of money laundering and failing to register as a lobbyist.

    Manafort’s 31-page indictment describes 17 vendors, including some in Florida. He hired a Palm Beach Gardens contractor to remodel his house at the same time he took more than $400,000 from a bank in Cyprus.

    Manafort’s lawyers agree with prosecutors “that Mr. Manafort has considerable wealth, accumulated over a lifetime of work, and the defense does not contend that a person’s financial resources are irrelevant to considerations of release on bail.” The proposed bail package includes a Fifth Avenue property in New York City valued at $3 million; another property in New York valued at $3.5 million; and life insurance properties held by a trust, him, or his wife, valued at $4.5 million, according to the filing.

    A federal grand jury said it believes property subject to forfeiture includes two other New York City properties; other locations in New York and Virginia; and a life insurance policy.

    A bond review hearing is scheduled for 9:30 a.m. Monday.

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