Former Trump campaign chairman Paul Manafort and his associate, Rick Gates, were indicted on several charges last week, including money laundering and conspiracy against the United States. It was no surprise that the two are considered flight risks and were forced to surrender their passports, placed under house arrest, and subject to GPS monitoring. Over the weekend, Manafort offered to post more than $12 million of real estate and insurance assets in order to avoid house arrest, but the federal judge presiding over the case rejected the offer.
At a Monday hearing, Judge Amy Berman Jackson said she wouldn’t make a decision on whether the two men could post bail until after she has a more complete picture of the two’s financial situations. Even if bail is set, Judge Jackson proposed the two remain under GPS monitoring and only be allowed to stay around Washington (Manafort) or Richmond, Virginia (Gates) while being subject to curfews and ordered to stay away from airports and train stations. The decision is expected to be reached prior to Manafort and Gates’ next court appearance in December where a trial date will be determined.
Unfortunately for Manafort, Special Counsel Robert Mueller’s team hasn’t determined if the real estate Manafort has offered as collateral (a Trump Tower apartment, a condo in New York’s Chinatown neighborhood, and a house in Palm Beach, Florida) is worth as much as he claimed in his offer to the court. Manafort has also claimed his net worth is $28 million, but the prosecution is investigating that amount as well.
“Although Manafort has provided the government with a spreadsheet listing his total assets at approximately $28 million, the government has yet to substantiate Manafort’s net worth. Indeed, we continue to have questions about that sum,” prosecutors wrote in a filing over the weekend.