Tuesday, July 18, 2017

Money Laundering and Hijinx

Twenty four percent??! And to one guy??! Let me guess. Was this Deutsche Bank?
New York prosecutors have demanded records relating to up to $16 million in loans that a bank run by a former campaign adviser for President Donald Trump made to former campaign chairman Paul Manafort, according to a person familiar with the matter.

Oh Lordy. Maybe even better.
The subpoena by the Manhattan district attorney’s office to the Federal Savings Bank, a small Chicago bank run by Steve Calk, sought information on loans the bank issued in November and January to Mr. Manafort and his wife, the person said. The loans were secured by two properties in New York and a condominium in Virginia, real-estate records show.

Asked about the subpoena Monday, Mr. Calk said he had no comment.
Oh, boy, I bet he didn't.
A spokesman for Mr. Manafort declined to comment.
One of the smarter guys in the Trump Cabal.
Mr. Manafort hasn’t been accused of wrongdoing and has said any suggestion that he coordinated with Russia is unfounded.
For now, Dude, for now.
The Wall Street Journal reported in May that Manhattan District Attorney Cyrus R. Vance Jr. and New York Attorney General Eric Schneiderman had begun examining real-estate transactions by Mr. Manafort [...] for indications of money-laundering and fraud, people familiar with the matters have said.
Why on earth would they suspect that?
Mr. Calk was a member of Mr. Trump’s economic advisory panel who overlapped with Mr. Manafort on the Trump campaign.
Oh, my. Imagine that.
Mr. Calk has previously said that the loans to Mr. Manafort were standard with more than sufficient collateral.
For 24% of your bank's equity??
Mr. Manafort’s Brooklyn townhouse was in foreclosure after a loan against the property, which was used for [his] son-in-law’s project elsewhere, went into default, a lawyer working with Mr. Manafort has said. Loans for the son-in-law’s California projects also went into default last year, jeopardizing $4.2 million that Mr. Manafort, his wife and daughter had put into those projects, real-estate and bankruptcy court records show.
MORE than sufficient collateral.  (Another "son-in-law" scandal.)
As part of its probe into Mr. Manafort, the New York attorney general’s office in recent weeks sought information about investment deals involving his son-in-law in New York, a person familiar with the matter said. The son-in-law, Jeffrey Yohai, was accused in a civil suit in New York in November of defrauding a photographer of a $2.9 million investment.
Jesus, the lack of integrity surrounding the Trump Cabal is awesome. A barrel of snakes.
Mr. Yohai couldn't be reached for comment.
No I bet he couldn't. If they're smart, they're all on that private cruise with Rob Goldstone.

 ...but hey, do what you want...you will anyway.

UPDATE 2/17/18:  Mueller (who was indicted in the special prosecutor's probe in October)  has now filed a bank fraud charge against Manafort.

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