#ManafortTrial - Thread on Peggy Miceli, VP underwriting at Citizen's Bank, one of the banks prosecutors claim Manafort defrauded.
According to Miceli, Manafort wouldn't have been able to secure a loan for roughly $3.4 million against one of his New York city properties if ...
the bank would have been aware that the property was actually a rental instead of a second residence.
The loan surpassed the maximum limit of $1 million for an investment property and while some exceptions can be made, Miceli said, those exceptions didn't apply here
If the bank had known Manafort reported the property as available for rent all year, she said it would've been dubbed an investment property by law.
Miceli also told prosecutor Uzo Asonye that the bank would have wanted to know if a loan forgiveness letter totaling $1.5 million - to Manafort from Peranova Holdings, one of his Cypriot entities - had been written in 2016 and if it was backdated.
During cross, defense attorney Jay Nanavati asked Miceli if she believed there would have been a benefit in Citizen's Bank knowing that the Peranova Holding entity belonged to the former lobbyist.
(Sidebar - uh, you think?)
"Yes, it would have," Miceli said.
Nanavati then strayed from the questions about Peranova and instead focused on Citizen Bank policy.
In the last year, the bank has launched a partnership with Airbnb and Fannie Mac which allows people to use rental income earned through their site to refi their mortgages. Nanavati asked Miceli if she was aware of the program at any point before or after her dealings w/Manafort
She said she wasnt.
During redirect, prosecutor Asonye contended that whether Miceli knew or not, ultimately, it might not matter that much. The program only applies to hosts on Airbnb who list their main, or primary residence, on the site for short term rentals.
Manafort's properties were rented beyond the short term maximum, he argued.

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More from @Brandi_Buchman

Oct 4, 2018
THREAD - Some observations I recorded while at the protest this afternoon:
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Oct 2, 2018
THREAD - It is time to head to @Scotus. On deck: Madison v. Alabama. Is it a violation of the Constitution to execute a man who can't remember his crime? Well into his 60s & w/dementia, Vernon Madison argues executing someone who doesn't understand why he is being punished...1/4
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Sep 28, 2018
THREAD I suppose I need to state my belief on this for the record because it will save me time. Folks, I want to believe Kavanaugh wont be confirmed because even if you dont #BelieveHer, the man is not fit for the bench. #sorrynotsorry (Evidenced by his own behavior yesterday)
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Sep 27, 2018
THREAD - In October, I'll cover several arguments at @Scotus:
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Sep 27, 2018
THREAD - Some reactions from Democratic Senators at a press conference this a.m. during the lunch break:
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Sep 25, 2018
THREAD - A group of attorneys general filed a comment with Interior Department rejecting Secy Zinke's proposed rollback of protections in the #EndangeredSpeciesAct. You can read their letter here:
documentcloud.org/documents/4941…
@CourthouseNews
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