OCR transcription — Page 226
BU 92-61 — report page -11-.
On or about February 25, 1954, [REDACTED] made a six percent $30,000.00 loan to PETER and FRANCES MAGADDINO, receiving securities of the Magaddino Funeral Home as collateral. To make the loan, BUFALINO borrowed money from [REDACTED] at four percent.
MAGADDINO never made payments on the principal, but did make interest payments; BUFALINO made interest payments to [REDACTED]. On July 29, 1955, the MAGADDINO loan was legally assigned to [REDACTED], and the reporting person did not know its present status.
This was the only loan he ever made to any of the MAGADDINOs.
It will be noted that [REDACTED] is a wealthy [REDACTED], investigated by the Philadelphia Office under the Top Hoodlum Program because information had been received that he made a flight in his private plane to Apalachin, New York, on October 29, 1957, accompanied by [REDACTED], RUSSELL BUFALINO, [REDACTED], and DAVE OSTICCO, where they visited with JOSEPH BARBARA. The subsequent investigation failed to disclose that [REDACTED] engaged in criminal activity or had close associations with known criminals. When interviewed, he admitted the visit with BARBARA, called it social in nature and arranged by [REDACTED], and stated he had never met BARBARA before October 29, 1957, or contacted him afterward.
On October 16, 1958, T-8, whose reliability was unknown, advised [LARGE PASSAGE REDACTED IN ORIGINAL].
Uncorrected machine OCR. Verify names, dates,
and quotations against the original FBI scan.