State dissolves LLCs used for money laundering


DOVER — The Delaware Department of Justice secured a Court of Chancery ruling dissolving four LLCs and two corporations owned by Paul J. Manafort Jr. and Richard W. Gates III on Friday.
The entities were used to launder $75 million in funds from the Ukrainian government to assist the two men in tax fraud and other crimes, the department said. Five of the six entities in question also violated administrative requirements of Delaware law.
“This is another victory for the integrity of Delaware’s corporate brand,” Attorney General Kathy Jennings said in a statement. “Paul Manafort and Richard Gates violated Delaware law and abused the corporate franchise to commit federal tax fraud. Dissolving their LLCs and corporations ensures that they can never again be used in such schemes. We will continue to enforce all regulations governing Delaware LLCs and corporations and ensure that nobody — no matter his connections — is above the law.”
Mr. Manafort, who chaired the 2016 political campaign of President Donald Trump, was convicted by a jury trial in August 2018 and pleaded guilty in September 2018 to two counts of conspiracy against the United States. Mr. Gates pleaded guilty in February 2018 to conspiracy against the United States and making a false statement to the Special Counsel’s Office.
Neither man provided any cooperation in this matter or responded to the complaint.