James McManus escalates dispute with Fairbridge Asset Management after radio interview

Connecticut and New York developer James McManus used a recent appearance on The Lee Elci Show to spotlight his legal fight with Fairbridge Asset Management and broader concerns about private credit lending. The interview, aired on 94.9 FM News Now WJJF in New London, Connecticut, also touched on allegations tied to his real estate holdings and a published comment from Lee Elci on lending risk.

Why it matters: - James McManus is turning a personal legal dispute into a broader critique of private credit and commercial lending oversight. - The dispute centers on real estate holdings and LLC interests McManus says were taken during his recovery from major heart surgery. - The case adds to growing scrutiny of private credit markets, which McManus described as a form of “shadow banking.”

What happened: - McManus discussed the dispute during a recent appearance on The Lee Elci Show on 94.9 FM News Now WJJF in New London, Connecticut. - McManus said Fairbridge Asset Management improperly declared his loan in default while he was recovering from sextuple heart bypass surgery. - McManus said the default action led to the loss of his business interests. - McManus identified Fairbridge Asset Management leader John Lettera as a former childhood friend. - The interview also included a discussion of Thomas J. Lee, whom McManus described as a once-disbarred attorney. - McManus said he asked Lee, “Would you lend this person money?” and recalled Lee answering, “No.”

The details: - McManus said he had a consistent history of timely loan payments before the default dispute. - McManus said Fairbridge Asset Management moved on the loan during a period when he was medically incapacitated. - McManus said the lending activity tied to Fairbridge involved almost $15 million across multiple states. - Host Lee Elci said the interview pointed to a larger discussion about private credit and what is happening in financial markets. - A full interview is available on YouTube.

Between the lines: - McManus is using the radio appearance to frame the lawsuit as a warning about risks in private credit, not just a personal business dispute. - The public airing of the allegations suggests McManus is seeking broader attention around commercial lending practices and accountability. - Lee Elci’s on-air response reinforced McManus’ effort to position the issue as one with wider financial-market implications.

What's next: - McManus says he is seeking judicial review of actions taken against his companies and properties. - McManus said he hopes the case will push for greater transparency in commercial lending. - McManus also said he wants the dispute to prompt more public awareness of risks in private credit markets.

The bottom line: - McManus is not just fighting a legal dispute with Fairbridge Asset Management. He is trying to make it a test case for how private lending is supervised and disclosed.