In court documents filed last month, the special counsel's office agreed with the findings of an independent pre-sentence report, which calculated that Manafort's crimes called for a prison sentence of up to 25 years.
He is one of six top advisors and associates of Trump's 2016 presidential election campaign to be charged in the Mueller investigation.
Manafort now faces up to 24-years in prison and millions of dollars in fines and restitution.
Prosecutors say Manafort failed to pay more than $6m (£4.6m) in taxes, as he funded his opulent lifestyle, including a $15,000 ostrich-skin jacket and a luxury renovation of his Hamptons mansion.
Manafort faces sentencing in a separate case in Washington on March 13 on two conspiracy charges to which he pleaded guilty last September. The charges stemmed from Manafort's political consulting work for a pro-Russia political party in Ukraine.The jury was gridlocked on 10 other fraud charges (one juror cited reasonable doubts).
Manafort's investigation began a year ago, when the FBI stormed his house in Alexandria, Virginia and seized documents related to special counsel Robert Mueller's investigation into the Trump campaign's potential collusion with Russian Federation in the 2016 presidential race.
He added, "I ask you to be compassionate".
Manafort, 69, addressed the court on Thursday evening in Alexandria, Virginia, saying "the last two years have been the most hard of my life".
Manafort, who suffers from gout, is a first-time offender and the sentencing guidelines are "clearly disproportionate" for the crimes he committed, his attorneys said.
No, Manafort has not been charged with anything related to the special counsel's investigation into an alleged Russian plot to influence the 2016 United States presidential election.
Manafort was convicted after prosecutors accused him of hiding from the USA government millions of dollars he earned as a consultant for Ukraine's former pro-Russia government.
Donald Trump's ex-campaign chairman Paul Manafort could be set to receive a decades-long prison sentence for tax and bank fraud.
"The defendant blames everyone from the Special Counsel's Office to his Ukrainian clients for his own criminal choices", prosecutors said.
The memo pushed back against any assertion that Manafort's cooperation should reduce his sentence, contending that "consideration of his lies to the government and grand jury are aggravating factors and an additional basis for the denial of any reduction for acceptance of responsibility".
Manafort, in addition to Trump's campaign, worked on the White House bids of Gerald Ford, Ronald Reagan, George HW Bush and Bob Dole.
Manafort: "I know it is my conduct that brought me here", he said. If not, Waxman said, then today's verdict is "definitely a victory for Paul Manafort and for President Trump".
He is scheduled to be sentenced in the Washington case next week.