Politics: Banker Accused of Arranging $16 Million in Loans to Manafort to Gain High-Level Trump Post - - PressFrom - US

PoliticsBanker Accused of Arranging $16 Million in Loans to Manafort to Gain High-Level Trump Post

18:26  23 may  2019
18:26  23 may  2019 Source:   nytimes.com

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• A former bank vice president said Manafort quickly got $ 16 million in loans with the help of a CEO who wanted a Trump administration job. The very next day, high - level bank officials approved a loan to the two men – a turnaround quicker than Raico said he had ever seen before.

During opening statements last week, Manafort defense attorney Tom Zehnle referred vaguely to Manafort ’s role in “the candidacies of … multiple U.S With permission Ellis granted before the trial’s opening, prosecutors also discussed an alleged Trump campaign connection to $ 16 million in loans

Banker Accused of Arranging $16 Million in Loans to Manafort to Gain High-Level Trump Post© Susan Walsh/Associated Press Paul Manafort arriving at a federal courthouse in Washington in 2017.

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The chairman of a Chicago bank has been indicted in Manhattan on a charge that he issued millions of dollars in loans to President Trump’s former campaign chairman, Paul Manafort, in an effort to obtain a high-level position in the administration, federal authorities said on Thursday.

Prosecutors said the banker, Stephen M. Calk, the chairman of Federal Savings Bank, pushed the bank to give Mr. Manafort $16 million in loans in exchange for help in procuring an appointment.

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bank that approved $ 16 million in loans to former Donald Trump campaign chairman Paul Manafort was seeking a post in the new administration, a Mr Manafort denies all the charges against him. The bank and Mr Calk, who was named an economic adviser to the Mr Trump campaign in August 2016

Rachel Maddow shares an exhibit from the trial of Donald Trump 's former campaign chairman Paul Manafort in which banker Stephen Calk, who gave Manafort $ 16 million in loans , lists in a poorly spelled e-mail "perspective rolls" he would like to have in the Trump administration.

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Mr. Calk, 54, sought positions including secretary of the Treasury, according to the indictment unsealed in Federal District Court in Manhattan. He did not receive a post.

One person with knowledge of the matter said Mr. Calk surrendered to federal authorities on Thursday morning. He is expected to appear in United States District Court later Thursday.

Mr. Calk has been under investigation for well over a year in a case that was originally opened by federal prosecutors in Manhattan, but then passed to the special counsel’s office during the Manafort inquiry, according to two people familiar with the investigation.

The case was later returned to Manhattan for prosecution, those people said.

The indictment charges Mr. Calk with one count of financial institution bribery.

If convicted, he would face a maximum sentence of 30 years in prison, although he would likely receive a lesser sentence.

A lawyer for Mr. Calk could not immediately be reached for comment.

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Feds take possession of Paul Manafort's Trump Tower condo.
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