Former Trump campaign chairman and advisor Paul Manafort has agreed to pay $3.15 million to settle a civil case with the Justice Department over foreign bank accounts he hadn’t disclosed on his tax forms, court records show.
The settlement was approved on Feb. 22 in the U.S. District Court for the Southern District of Florida, where the Justice Department had sued Manafort last April. The settlement was first reported by the Florida Bulldog, a news non-profit.
In its April complaint the Justice Department alleged that Manafort failed to report bank accounts maintained by his consulting firm, DMP International, in Cyprus, St. Vincent and the Grenadines, and the United Kingdom.
The settlement requires Manafort to pay $3.15 million in fines and interest for failing to file Reports of Foreign Bank and Financial Accounts (FBAR) with IRS for the 2013 and 2014 tax years. Any U.S. person must file an FBAR with the IRS if they have a bank account in a foreign country with more than $10,000 in assets.
Manafort was found guilty of eight charges of bank and tax fraud in 2018 and sentenced to nearly four years in prison, but he was pardoned by then-President Trump in December 2020.