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Bank CEO charged in Manafort bribery scheme to get Trump administration post


Added 05-23-19 01:10:03pm EST - “The head of a Chicago-based bank was charged in an indictment unsealed on Thursd...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Bank CEO charged in Manafort bribery scheme to get Trump...”. Below is an excerpt from the article.

(Reuters) - The head of a Chicago-based bank was charged in an indictment unsealed on Thursday with bribery and accused of corruptly approving high-risk loans to President Donald Trump’s former campaign chairman Paul Manafort in a scheme to land a top Trump administration post such as secretary of the U.S. Army.

Stephen Calk, who was chairman and CEO of Federal Savings Bank though is now on a leave of absence, was charged by federal prosecutors in New York with one count of financial institution bribery, which carries a maximum prison term of 30 years.

Calk’s name repeatedly came up during Manafort’s 2018 financial fraud trial in Virginia, with prosecutors saying he approved $16 million in loans for Manafort in exchange for help securing a senior federal post under Trump. Calk, 54, was named to a Trump campaign economic advisory committee and interviewed for the job of Army under secretary but did not land that job.

Jeremy Margolis, Calk’s lawyer, said his client would fight the charges, which he called “a travesty.” Calk is scheduled to appear before a federal judge in Manhattan later on Thursday.

“Mr. Calk has done nothing wrong and will be exonerated at trial of the baseless isolated charge brought against him,” Margolis said in a statement.

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