Banker charged with loaning millions to Paul Manafort in exchange for a Trump White House job
Stephen Calk, the Chicago-based former CEO of Federal Savings Bank, has been indicted on charges that he loaned former Trump campaign chair Paul Manafort millions of dollars in exchange for Manafort's help securing a high-level Trump administration position for Calk.
In exchange for the loans, Manafort secured a spot on a prestigious Trump campaign committee for Calk, and helped get him a formal interview with the Trump transition team, although Calk wasn't ultimately offered a job. Manafort is serving a seven year prison sentence in federal custody after he was convicted last year on several counts of tax and bank fraud.
In a statement Thursday, federal prosecutor Audrey Strauss accused Calk of having "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.
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