Double trouble as Manafort faces years in jail over fraud

Paul Manafort has been found guilty of eight financial crimes in the first trial victory for the special counsel investigation into Donald Trump’s associates.

A judge declared a mistrial on 10 other counts the jury could not agree on against the long-time political operative, who for months led Mr Trump’s successful presidential campaign.

The verdict was part of a stunning one-two punch of bad news for the White House, coming as the president’s former lawyer Michael Cohen was pleading guilty in New York to campaign finance charges arising from hush money payments made to two women who say they had sexual relationships with Mr Trump.

The jury returned the decision after deliberating for four days on tax and bank fraud charges against Manafort, who led Mr Trump’s election effort during a crucial stretch of 2016, including as he clinched the Republican nomination and during the party’s convention.

“Mr Manafort is disappointed of not getting acquittals all the way through or a complete hung jury on all counts,” said defence lawyer Kevin Downing. He said Manafort was evaluating his options.

The jury found Manafort guilty of five counts of filing false tax returns on tens of millions of dollars in Ukrainian political consulting income.

He was also convicted of failing to report foreign bank accounts in 2012 and of two bank fraud charges that accused him of lying to obtain millions of dollars in loans after his consulting income dried up.

The jury could not reach a verdict on three other foreign bank account charges and the remaining bank fraud and conspiracy counts.

The outcome, though not the across the board guilty verdicts prosecutors sought, almost certainly guarantees years of prison for Manafort.

It also appears to vindicate the ability of special counsel Robert Mueller’s team to secure convictions from a jury of average citizens.

The trial did not, however, resolve the central question behind the investigation – whether or not Trump associates co-ordinated with Russia to influence the election.

The trial in Alexandria, Virginia, is the first of two for Manafort.

He faces a trial later this year in the District of Columbia on charges of conspiracy against the US, conspiracy to launder money, making false statements and acting as an unregistered foreign agent for Ukrainian interests.

He is also accused of witness tampering in that case.