Giuliani Ally Says $1 Million From Russia Was Loan to Wife

(Bloomberg) — Lev Parnas, an associate of Rudy Giuliani indicted on U.S. campaign finance charges, said a $1 million transfer into his wife’s bank account from Russia was the proceeds of a loan — and not an attempt to conceal his assets.Federal prosecutors raised the transfer in a filing last week asking the judge to revoke Parnas’s bail because he misrepresented his financial resources when he was arrested. They said Parnas’ wife, Svetlana, received $1 million from a bank account in Russia in September, the month before Parnas and business partner Igor Fruman were arrested as they sought to leave the country.Monday’s filing by Parnas’ lawyer said the $1 million did not belong to Parnas but was a loan to Svetlana for a term of 60 months at a 5% annual interest rate. The filing does not provide much additional detail.Parnas and Fruman are accused of working on behalf of one or more Ukrainian government officials to seek the removal of then-U.S. ambassador to Ukraine Marie Yovanovitch. They have pleaded not guilty to those and other charges.The filing left much unexplained about the payment, including who provided it or what it was for. Prosecutors said Svetlana Parnas is a stay-at-home mother with $210,000 in assets of cash and jewelry, further raising questions about why a lender would extend a $1 million loan to her.The filing by his lawyer said he did not mislead the authorities and that the financial records were provided to the government. Those records also reflect a $200,000 payment from Svetlana Parnas’ account into an escrow account as a down payment on a home and other expenses.(Updates with details of case)To contact the reporter on this story: Christian Berthelsen in New York at cberthelsen1@bloomberg.netTo contact the editors responsible for this story: David Glovin at dglovin@bloomberg.net, Anthony LinFor …read more

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