Paul Manafort Allegedly Spent $1 Million of Laundered Money Just On Rugs

published Oct 30, 2017
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If you had $18 million to burn, how would you spend it? If you’re Paul Manafort, allegedly you’d hop over to your neighborhood antique rug shop and drop (nearly) a cool mil just on carpet.

Monday’s federal indictment of Trump’s former campaign manager, the first of a series said to be coming in regards to the investigation into Russia’s meddling in the 2016 election, alleges that Paul Manafort laundered $18 million and spent it on various houses, renovations, decor, and cars.

Notably, it says that at an Alexandria, Virginia “antique rug store,” his purchases totaled $934,350, “plus $100,000 related to those purchases.” What is a “related” rug purchase? Is that delivery and installation? Rug pads? $100,000 worth of Resolve? We all know the right rug can really tie a room together, but I think we can also agree there are limits (like maybe not laundering money). Also, if you (allegedly) had $18 million, would you spend a whole million of it on rugs? Isn’t that kind of a bonkers ratio?

It wasn’t all rugs, though. Manafort is accused of using the dirty money to purchase three properties: a condo in New York’s SoHo neighborhood for $2.85 million (which has been listed on Airbnb); a brownstone in Brooklyn’s Carroll Gardens neighborhood for $3 million; and a house in Arlington, Virginia, for $1.9 million. (The Real Deal has a breakdown of his New York real estate portfolio.)

Not content with his multimillion dollar home purchases, he allegedly also spent millions more renovating them; He paid a Hamptons home improvement company $5.4 million, a Florida “home lighting and entertainment company” $1.3 million, spent $820,240 on landscaping in the Hamptons, and shelled out $432,487 and $125,650 for contractors in Florida and Virginia, respectively. (If you don’t have that kind of cash for a remodel, we have some money saving tips from an expert.)

Manafort could also be in additional hot water (mild, considering he’s facing 12 counts from the federal government) for violating Airbnb’s terms of service, Fast Company notes, by falsely securing a loan for the property by saying it was a second home and not a permanent rental.

Check out more of Manafort’s spending habits over on CNN Money.