Attorneys for former Trump campaign manager Paul Manafort filed court papers on Saturday saying Manafort would put up $12.5 million in assets - including his $1.5 million home in BallenIsles - to guarantee his appearance in court to face charges of laundering millions of dollars through overseas shell companies and banks.
In exchange for the assets, Manafort is asking that his house arrest be lifted and he be allowed to travel between New York, Virginia, Washington D.C. and his primary residence at BallenIsles in Palm Beach Gardens. A federal magistrate on Monday released Manafort to house arrest and a $10 million personal recognizance bond. Manafort has been confined to his home in Virginia since then.
The 17-count indictment includes conspiracy to launder money, conspiracy against the United States and failing to register as foreign agents of Ukraine’s former pro-Russian government.
In addition to Manafort’s 5,231 square-foot home in BallenIsles, the proposed bail package includes a condo in Trump Tower on Fifth Avenue in New York City valued at $3 million, another property in New York valued at $3.5 million, and life insurance policy valued at $4.5 million, according to the filing.
None of the properties listed in the bail proposal are among those that the government intends to seize if Manafort is convicted.
Manafort and his wife purchased their home on St. James Drive in BallensIsles for $1.5 million in 2007. The Manafort’s have a $50,000 homestead exemption on the property. If convicted, the special counsel’s office intends to seize four of Manafort’s properties in connection with money laundering charges. Manafort’s home in BallenIsles is not among the properties targeted for seizure.
The 31-page indictment also lists 17 unnamed vendors, including three in Florida, that were paid for clothes, cars, artwork, rugs and home remodeling with money that Manafort laundered through foreign banks, according to court records. Manafort hired Sabatello Companies,a Palm Beach Gardens contractor to remodel his house at the same time he took more than $400,000 from a bank in Cyprus.
Carl Sabatello, president of the company, could not confirm if his company is the unnamed Florida contractor referenced in the indictment. Asked if he had been contacted by federal investigators about the work his company did at Manafort’s home, Sabatello responded, “I’m not so sure I am able to answer that.”
Later in the same interview, Sabatello said he did not know if he had been contacted by investigators, then said he had “no comment.”
Federal officials are scheduled to file a response to the bail motion by this 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 a crime.
A bond review hearing is scheduled for 9:30 a.m. Monday.