Stephen Calk, former CEO of a Chicago based Federal Savings Bank, has been indicted on charges that he loaned former Trump campaign chair Paul Manafort 16 Million dollars in exchange for Manafort’s help securing a high-level Trump administration position.
Calk surrendered earlier today and appeared in Federal Court in Manhattan in the afternoon.
According to CNBC, the indictment detailed how Calk arranged for Manafort to receive three separate home loans from Federal Savings Bank valued at up to $16 Million.
In exchange for the money, Manafort pledged to assist Calk with getting appointed to Trump’s then-newly forming administration as secretary of the Army or a similar type senior level position. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
Manafort was able to secure a position for him on the economic advisory committee and later pulled strings to get Calk a formal interview for the position of undersecretary of the Army, but Calk did not end up getting the job.
Calk and his legal team contend that the loans to Manafort from Federal Savings Bank were “good loans.”
“The bank’s loans to Mr. Manafort – who by then had been terminated from the Trump campaign – had nothing whatsoever to do with Mr. Calk’s desire to serve [in the Trump administration],” Calk’s lawyer said.