Last month, we reported on the trial of a bank executive accused of trying to bribe his way into a position within the Trump administration. And now, according to a new report from CNN, he has been found guilty of his crimes in a court of law.
According to reports Stephen Calk, the former CEO of The Federal Savings Bank in Chicago, conspired with former President Donald Trump Campaign Chairman Paul Manafort to approve massive, high-risk bank loans in exchange for a position within the former guy’s presidential administration.
Today, he was found guilty of “one count of financial institution bribery and one count of conspiracy to commit financial institution bribery. The charges carry 30 and 5-year maximum prison sentences, respectively,” according to the CNN report.
It only took two hours of jury deliberation to reach this verdict.
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According to reports, Calk held up his end of the bribe but was ultimately never offered or accepted a position within Trump’s presidential administration. To make matters worse, Calk’s bank was left holding the bag when Manafort defaulted on the steep, high-risk loans, totaling around $16 million.
Despite Calk’s guilty verdict, his defense team continues to argue that Manafort was actually the one who committed fraud in this situation by lying about his finances and submitting false documents as proof of his wealth to secure the large loans. Prosecutor Paul Monteleoni argued otherwise, though.
“Prosecutors called Calk greedy, hungry and desperate to get into the Trump administration, telling jurors during closing arguments Monday that the bank CEO pushed his employees to approve Manafort’s risky loans despite debt and properties in foreclosure,” the CNN report reads.
“No matter how many problems the loans just would not die. Why not? Because Calk wanted them to close,” Monteleoni reportedly stated. “That’s the second of seven reasons why you know Calk had corrupt intent because he gave Manafort such special treatment. And he did it with both eyes open. So the idea that everyone else was moving alone forward and keeping things from Calk is 100% backwards. Calk was deep in the weeds on this loan.”
During his final days in office, Donald Trump gave Paul Manafort a pardon for his wide range of crimes for which he had been found guilty through former Special Counsel Robert Mueller’s investigation. However, that pardon unsurprisingly offered no protections for Manafort’s partner in crime, Calk.
Featured image via screen capture
