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4 Aug 2018

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What does "the loan was forgiven" mean?

Context>>>>>>>>>>>>>>>>>>>>>>>>>>>
Laporta also told jurors about another $1.5 million loan on the books of Manafort’s company that caused Citizens Bank to balk at issuing a new loan on property Manafort owned in Manhattan. After the bank expressed reservations about the size of Manafort’s debt, Gates sent her documentation showing the $1.5 million loan had been forgiven. Asked by Asonye if she believed it was forgiven, she said: “Uh, no.”

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