By
August 1, 2016 1:36 pm - NewsBehavingBadly.com

Paul Manfort wielded power in Ukraine before signing on the the Trump campaign.

President Viktor F. Yanukovych [pictured with Vladimir Putin], who owed his election to, as an American diplomat put it, an “extreme makeover” Mr. Manafort oversaw, bolted the country in the face of violent street protests. He found sanctuary in Russia and never returned, as his patron, President Vladimir V. Putin, proceeded to dismember Ukraine, annexing Crimea and fomenting a war in two other provinces that continues.

Mr. Manafort was undaunted.

[su_center_b]

Within months of his client’s political demise, he went to work seeking to bring his disgraced party back to power, much as he had Mr. Yanukovych himself nearly a decade earlier. Mr. Manafort has already had some success, with former Yanukovych loyalists — and some Communists — forming a new bloc opposing Ukraine’s struggling pro-Western government…

In 2008, he and the developer Arthur G. Cohen negotiated a deal to buy the site of the Drake Hotel on Park Avenue in Manhattan. One partner was Dmytro Firtash, an oligarch who made billions as a middleman for Gazprom, the Russian natural gas giant, and who was known for funneling the money into the campaigns of pro-Russian politicians in Ukraine, including Mr. Yanukovych. The three men intended to reopen the site as a mall and spa called Bulgari Tower, according to a lawsuit filed in Manhattan by Yulia V. Tymoshenko, a former prime minister of Ukraine. In the end, though, the project unraveled.

A separate deal also funneled Russian-linked oligarchic money into Ukraine. In 2007, Mr. Manafort and two partners, Rick Gates and Rick Davis, set up a private equity company in the Cayman Islands to buy assets in Ukraine, and invited the Russian oligarch Oleg Deripaska to invest, according to a court filing. Mr. Deripaska agreed to pay a 2 percent annual management fee to Mr. Manafort and his partners, and put $100 million into the fund, which bought a cable television station in the Black Sea port of Odessa, Ukraine, before the agreement unraveled in disagreements over auditing and Mr. Deripaska sued Mr. Manafort. The case is still pending.

[su_adblade]

[su_facebook]

D.B. Hirsch
D.B. Hirsch is a political activist, news junkie, and retired ad copy writer and spin doctor. He lives in Brooklyn, New York.