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The pardon didn’t help: Bank forecloses on Manafort home

The Federal Savings Bank of Chicago filed a foreclosure suit on former Trump campaign chairman Paul Manafort’s home in the Hamptons, New York, claiming Manafort owned more than $9 million on the home and had not made a payment since November 2017, court documents show.

The case notes that Manafort and his wife reside at a home in Palm Beach Gardens, Florida which they claim is their primary residence.  According to Zillow, that residence has a value of $1.3 million.

In November 2016, ten days after the presidential election, the Manaforts took a $9.5 million mortgage on the Hamptons house, with a current market value of $11.2 millions.  They missed the payment due one year later, on November 2017, as part of the lending agreement, and they have not made any subsequent payments.

In the summer of 2018, Manafort was convicted or pleaded guilty to a variety of federal charges including crimes relating to money laundering, tax evasion and making false statements to investigators, for which he was sentenced to 90 months in prison.  He received a pardon from Donald Trump on December 23, 2020, less than one month before Trump left office.

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