B12 Solipsism

Spreading confusion over the internet since 1994

Archive for the ‘federalsavingsbank’ tag

The Federal Savings Bank was uploaded to Flickr

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A strange little bank in Fulton Market, tied in closely to Donald Trump, Paul Manafort, and maybe Russian money laundering.

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.

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.
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I took The Federal Savings Bank on May 18, 2017 at 10:03AM

and processed it in my digital darkroom on July 17, 2017 at 10:39PM

Written by eggplant

July 17th, 2017 at 10:43 pm

Entrance to The Federal Savings Bank was uploaded to Flickr

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Actually, entrance to the building where The Federal Savings Bank is located. A strange kind of bank, only on the third floor, with a building security employee that won’t let you go up unless you are a member of the bank, plus won’t allow photography in the lobby.

The FSB has been in the news lately for its Trump ties, and allegedly Russian money laundering schemes with Paul Manafort.

For instance:
Chicago-based Federal Savings Bank wouldn’t comment Tuesday on a report that New York prosecutors have subpoenaed records related to $16 million in loans the institution made to former Donald Trump campaign manager Paul Manafort.

chief executive, Steve Calk, was an economic adviser to Trump’s presidential campaign. Manafort is under scrutiny from a special prosecutor and members of Congress for his dealings with Russian interests, part of the wider investigation into ties between Russia and members of Trump’s campaign and administration.

Federal Savings Bank made about $6.5 million in loans in January to Manafort and his wife for a Brooklyn property, documents show. That came about a month after Federal Savings lent $9.5 million to Summerbreeze, a limited liability company connected to Manafort, according to 377 Union, a website run by two New York lawyers that is named for the address of the Manafort property in Brooklyn.

The combined $16 million in loans to one borrower represents nearly a quarter of the small bank’s loan portfolio and approaches the level at which regulators would start to think about imposing limits on lending to one customer.

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I took Entrance to The Federal Savings Bank on May 18, 2017 at 10:02AM

and processed it in my digital darkroom on July 21, 2017 at 10:06AM

Written by eggplant

May 21st, 2017 at 2:26 pm