Bank CEO Indicted For Approving Manafort Loans in Exchange For Position in Trump Administration – Which He Did Not End Up Getting
Federal prosecutors in the Southern District of New York on Thursday unsealed an indictment charging Stephen Calk, the former CEO of Federal Savings Bank in Chicago for approving millions of dollars in loans to Paul Manafort in exchange for a job in the Trump Administration — but he never got the job.
This charge stems from Mueller’s investigation into Trump and his associates for the ‘crime’ of Trump defeating Hillary Clinton in 2016.
What does this have to do with so-called Trump-Russia collusion?
Mr. Calk faces one count of financial institution bribery for corruptly using his position to give Paul Manafort ‘high-risk’ loans in exchange for a job in the Trump Admin — only he never got the job.
“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.
“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, Calk’s alleged corrupt scheme has now resulted in a federal criminal charge.”
FBI Assistant Director William F. Sweeney Jr. said: “As alleged, Calk went to great lengths to avoid banking violations in an attempt to secure a senior position in a presidential administration. He curried favor with an influential Borrower, exploited his position as CEO of the Bank and the Holding Company, and exercised control over the Bank and the Borrower’s loans, intentionally turning his back on the many red flags posted along the way. His attempt at petitioning for political favors was unsuccessful in more ways than one – he didn’t get the job he wanted, and he compromised the one he had.”
Donald Trump’s former campaign chair Paul Manafort was not named in the indictment, however, prosecutors referred to a “borrower” who “held a senior role with the Presidential Campaign.”
“[W]hile the Borrower’s loans were pending approval, CALK provided the Borrower with a ranked list of the governmental positions he desired, which started with Secretary of the Treasury, and was followed by Deputy Secretary of the Treasury, Secretary of Commerce, and Secretary of Defense, as well as 19 ambassadorships similarly ranked and starting with the United Kingdom, France, Germany, and Italy,” the indictment read.
Stephen Calk, 54, is charged with one count of financial institution bribery, which carries a maximum sentence of 30 years in prison.
Paul Manafort, 70, is currently in prison for tax evasion and violating FARA and now a banker who approved his loans is charged with bribery…because Russia.