Former banker urged colleagues to take a 'deep breath' as terms of a Paul Manafort loan were being reset at closing

Dennis Raico, a former vice president at Federal Savings Bank, testified at Paul Manafort's trial he had not seen terms of a loan restructured at closing and that it was not consistent with bank policy.

FW: Restructure framework of Loan Agreement

From: Jim Brennan
To: Javier Ubam?

Date: Wed, 19 Oct 2016 16:01:26 -0400
Attachments: Terms of Loan.docx (42.97 kB)

The borrower on the above loans has proposed a totally new loan structure at basically the closing


Current Structure New Proposal Difference
Loan Amount 9,200,000 2 loans 5 9,500,000 Two loans vs
One Loan plus $300,000 increase
Collateral $22,200,000 $16,200,000 Excludes-

Without the sales proceeds from ?which was counted on to get the loan back to
$3,500,000 we would have a $9,500,000 can totally dependent on Paul?s income. This whole
exercise was to help out on the construction loan in LA.

A raised Values

Alexandria VA Condo 2,700,000
Subtotal $16,200,000
ota $22,200,000

Jim Brennan, Vice President,

The Federal Savings Bank I _hicago, IL 60607

web: ederalsavingsbankmm

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U.S. V. MANAFORT, 1:18-cr-83 (T.S.E.)


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From: Dennis Raico
Sent: Wednesday, October 19, 2016 2:57 PM

Tn= Brennan
Subject: FW: Res ruc ure ramewor 0 can greemen


Please see below and the attachment. Take a deep breath, and let?s find a conducive time to discuss
if and how this may be structured. Thanks!

Dennis Raico, Sen/or Vice PRES/dent

The Federal Savings Bank _ew York, NY 10271



From: Paul Manafort
Sent: Wednesday, October 19, 2016 3:31 PM

?em? Ra??
Cc: Bruce Baldinger eff Yohai?

Subject: Restructure framework of Loan Agreement


have attached the framework of the deal that we discussed.

It simplifies matters and aligns the debt and the properties properly.

The terms are the same, the amount of the loan is the same.

We are restructuring the loan to be one loan that is a personal loan to me using BH and Va as the security


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