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AP: Citizens Financial Group unit linked to Manafort fraud allegations


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AP: Citizens Financial Group unit linked to Manafort fraud allegations

Court documents show the Providence, R.I.-based Citizens Bank NA was connected to an alleged loan fraud detailed in charges against Paul Manafort, The Associated Press reported.

Citizens, which the AP matched to a party called "Lender B" in court papers, is said to have lent President Donald Trump's former campaign chairman $3.4 million. The documents assert that a bank employee may have additionally helped protect Manafort by passing along a falsified financial document, the report stated.

Manafort has been charged with money laundering and bank fraud, among other accusations. While the banks involved were not named in the documents, the AP cross-referenced loan amounts and dates mentioned with publicly available data. The bank would not confirm to the AP if it was indeed "Lender B."

Parent company Citizens Financial Group Inc. said in a press release that it was unaware of any related investigation against the bank and that it did not believe "matters under speculation" would negatively impact its regulatory standing.