Bank Executive Convicted of Loaning Manafort Money for Job With White House

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Politics|A slope enforcement is convicted of loaning Paul Manafort wealth to get a occupation with the Trump administration.

Stephen M. Calk, a erstwhile  Chicago slope  executive, extracurricular  Federal tribunal  successful  New York past  month.
Credit...Richard Drew/Associated Press

Kenneth P. Vogel

  • July 13, 2021, 4:25 p.m. ET

A erstwhile Chicago slope enforcement was convicted connected Tuesday of fiscal crimes related to his facilitation of millions of dollars successful high-risk loans to Paul Manafort, each successful an effort to get a coveted presumption successful the Trump administration.

A assemblage successful New York unanimously recovered the banker, Stephen M. Calk, 54, blameworthy of 1 number each of fiscal instauration bribery and conspiracy to perpetrate fiscal instauration bribery.

The charges stemmed from Mr. Calk’s usage of his presumption arsenic president and main enforcement of the Federal Savings Bank to push the slope to springiness $16 cardinal successful loans successful 2016 to Mr. Manafort, who served arsenic president of Donald J. Trump’s statesmanlike run during a cardinal stretch.

Just aft the election, Mr. Calk sent Mr. Manafort a database of 10 positions ranked successful bid of preference, including Treasury secretary, commerce caput and defence secretary, arsenic good arsenic 19 ambassadorships, which helium besides ranked, starting with the United Kingdom, France, Germany and Italy.

In a connection aft the conviction, Audrey Strauss, the U.S. lawyer successful Manhattan, said Mr. Calk “used the federally-insured slope helium ran arsenic his idiosyncratic piggy slope to effort and bargain himself prestige and power.”

At the clip of the loans, Mr. Manafort was trying to stave disconnected foreclosure connected respective properties and was pressed for currency to enactment an opulent manner aft a watercourse of payments from Ukrainian consulting clients ran dry.

Mr. Manafort made 2 calls connected Mr. Calk’s behalf successful precocious 2016 to officials connected Mr. Trump’s modulation team, urging them to name Mr. Calk caput of the Army, prosecutors said. Mr. Calk was interviewed astatine Trump Tower successful 2017 for a occupation arsenic nether caput of the Army, but was not hired.

Mr. Manafort, 72, was identified arsenic a co-conspirator successful the lawsuit against Mr. Calk, but helium was not charged. He was, however, convicted of 10 felonies successful 2018, including slope fraud related to the loans, successful 2 cases brought by the peculiar counsel, Robert S. Mueller III.

Mr. Manafort’s seven-year situation condemnation disappeared successful December erstwhile he was pardoned by Mr. Trump.

Mr. Calk, who is scheduled to beryllium sentenced successful January, faces a maximum of 35 years successful situation for the 2 charges.

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