NEW: Bank CEO Stephen Calk charged in $16 million bribery scheme to nab job in Trump administration
-- A Chicago banker who lent millions of dollars to Trump campaign chairman Paul Manafort was charged by prosecutors with bribery for seeking a post in the Trump administration in return for $16 million in loans.Calk presented a list of positions he wanted, ranking them from secretary of the Treasury on down to 19 ambassador posts beginning with the U.K. and France, according to an indictment unsealed Thursday.
The indictment is the latest to target a Trump campaign associate and indicates that prosecutors are aggressively pursuing offshoots of Special Counsel Robert Mueller’s probe into Russian interference in the 2016 election. In addition to Manafort, former Trump aides Michael Cohen and Michael Flynn have been convicted of federal crimes.The indictment also shows prosecutors have examined actions of Trump’s transition team.
Calk proceeded with the loans despite “significant red flags regarding the Borrower’s ability to repay the loans, such as his history of defaulting on prior loans,” according to the U.S. The Manafort loans became the single largest lending relationship at the bank.
Manafort’s request “didn’t go through the normal process because Mr. Calk was expediting the loan and pushing it through, notwithstanding the red flags,” prosecutor Greg Andres said during Manafort’s trial. “So there was agreement between Mr. Manafort and Mr. Calk to have the loans approved, they were approved, and in turn, Mr. Manafort proposed Mr. Calk for certain positions within the administration.” Calk didn’t receive a position in the administration.
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