Paul Manafort, a former campaign manager for President Donald Trump, has much stronger financial ties to a Russian oligarch than have been previously reported. An NBC News investigation reveals that $26 million changed hands in the form of a loan between a company linked to Manafort and the oligarch, Oleg Deripaska, a billionaire with close ties to the Kremlin. The loan brings the total of their known business dealings to around $60 million over the past decade, according to financial documents filed in Cyprus and the Cayman Islands.
Paul Manafort's spokesman initially denied that the President's former campaign manager was indebted to Deripaska, but then removed this denial in a subsequent press release.
Manafort’s spokesman, Jason Maloni, declined to give specific answers about the loans, but released a statement to NBC News saying, in part, "Mr. Manafort is not indebted to former clients today, nor was he at the time he began working for the Trump campaign.” He later revised the statement, removing that sentence entirely.