A Chicago banker and Donald Trump supporter who arranged $16 million in loans for former Trump campaign chairman Paul Manafort was convicted Tuesday on charges of trading the loans for positions in the Trump administration.
“A jury returned guilty verdicts on two felony counts against former Federal Savings Bank CEO Stephen Calk after a three-week trial in federal court in New York,” Politico reported, citing a statement from the U.S. Attorney’s Office.
Federal prosecutors alleged that Calk pushed to approve the loans to Manafort while seeking a post on the Trump campaign’s Economic Advisory Board and sought a series of Cabinet posts and other jobs after Trump’s win in November.
According to Politico, “Calk “proposed himself as Treasury secretary, Commerce secretary and Defense secretary, and for a long list of ambassadorships, before focusing on secretary of the Army. He was interviewed by a Trump transition “tiger team” at Trump Tower.”
Calk’s defense argued that he thought the loans were good deals for his bank and that he was unaware of various falsehoods Manafort told about his finances during the application process.
The trial featured testimony by former Trump White House communications director Anthony Scaramucci, who told jurors he helped Calk get an interview at Manafort’s request but was unaware of the financial relationship between Calk’s bank and Manafort. Scaramucci said he would not have aided Calk if he had known of the loan effort.
Jurors also saw an email Manafort sent to President Donald Trump’s son-in-law and adviser Jared Kushner, urging consideration of Calk for the secretary of the Army post. “On it,” Kushner replied in the email. It’s unclear what action, if any, he took. Kushner was not called as a witness at the trial.
Calk was charged with financial institution bribery and accused of violating his duty to the federally insured bank by seeking a “thing of value” from a prospective borrower.
Jurors deliberated for less than a day before returning the guilty verdict. Calk faces a maximum possible sentence of 35 years in prison.
