Banker charged for allegedly approving Manafort loans for Trump job

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Banker charged for allegedly approving Manafort loans for Trump job

By Jesse Byrnes - 05/23/19 10:21 AM EDT 

The former CEO of a bank has been charged with allegedly approving millions of dollars in loans for former Trump campaign chairman Paul Manafort in exchange for getting a position in the Trump administration.

Federal prosecutors in New York on Thursday unveiled an indictment against Stephen Calk, a Chicago banker and founder of Federal Savings Bank, which approved $16 million in loans to Manafort.

“As alleged, Stephen M. Calk abused the power entrusted to him as the top official of a federally insured bank by approving millions of dollars in high-risk loans in an effort to secure a personal benefit, namely an appointment as Secretary of the Army or another similarly high-level position in the incoming presidential administration," acting U.S. Attorney Audrey Strauss said in a statement.

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https://thehill.com/homenews/administration/445192-bank-ceo-charged-for-allegedly-approving-manafort-loans-for-trump-job

[Sanguine]

"Calk’s alleged attempt to obtain such an appointment was unsuccessful, and the loans he approved were ultimately downgraded by the bank’s primary regulator. Thanks to the outstanding work of the FBI and FDIC OIG [Federal Deposit Insurance Corporation Office of Inspector General], Calk’s alleged corrupt scheme has now resulted in a federal criminal charge.”

[Chosen Daughter]

And it begins:

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

William K. Rashbaum and Benjamin Weiser 1 hr ago

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

Prosecutors said the chairman, Stephen M. Calk of Federal Savings Bank, pushed the bank to give Mr. Manafort $16 million in loans in 2016 in exchange for help in procuring an appointment. Just after the election, Mr. Calk, 54, had sent Mr. Manafort a list of 10 positions he wanted, including Treasury secretary, commerce secretary and defense secretary, according to the indictment unsealed in Federal District Court.

At the time, Mr. Manafort was trying to stave off foreclosure on several properties and desperately needed capital, the indictment said.


http://www.gopbriefingroom.com/index.php?action=post;board=7.0

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Merged.