https://www.dailykos.com/stories/2018/9/14/1795772/-What-s-in-the-plea-deal-The-truth-about-how-Paul-Manafort-promoted-Russian-interests-in-the-US
"For those wondering just how money-laundering through real estate works, Manafort’s documents detail at least one way. Manafort used illegal foreign money to simply buy real estate. Because real estate laws are notoriously protective in guarding sources, he could more easily plow this money into a condo or apartment building than into his bank account. Once he purchased the property, Manafort then took out mortgages against the property. At that point, he had both cash and property. Then he used the property as collateral to buy other properties. All of which would have worked better had Manafort ever controlled his spending impulses well enough to pay off the first set of mortgages, but he didn’t. Despite running through almost $60 million of off-the-books, tax-free funds, Manafort still managed to be perpetually on the edge of bankruptcy while buying himself suits that cost in the five-figure range. It takes real dedication to be both that venal and incompetent. Manafort’s plea includes a recommended sentence maximum of 10 years, to be served in conjunction with his eight convictions on money laundering and fraud at his first trial in Virginia. While earlier assumptions had made it seem likely that for Manafort, who is 69, any sentence would be a “life sentence,” based on the given guidelines and standard procedures, he could easily be out on probation in three to five years. In addition to the prison sentence, Manafort had agreed to forfeit properties that were either paid for directly using illegal funds from overseas accounts, or which were obtained through bank fraud in which those illegal funds were reported as collateral or income. Included in the list of property to be surrendered is Manafort’s home in the Hamptons, two properties in New York City, and a home in Alexandria, Virgnia. Estimates of the worth of the properties Manafort is forfeiting have been as high as $46 million—more than enough to cover the cost of the entire special counsel investigation."
