Federal prosecutors in New York unsealed a grand jury indictment on Thursday accusing former bank CEO Stephen Calk of helping Paul Manafort secure $16 million in loans in exchange for a senior position in the Trump administration.
According to prosecutors, Calk’s institution, The Federal Savings Bank of Chicago, “suffered a multi-million dollar loss” when Manafort, a former campaign chairman for , defaulted on the loans.
Calk was never selected for an administration job.
The banker “engaged in a corrupt scheme to exploit his position” between July 2016 and January 2017 in order to “secure a valuable personal benefit for himself,” the stated.
Calk interviewed for the role of Under Secretary of the Army at the Trump