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You are here News Politics Banker Accused of Arranging $16 Million in Loans to Manafort to Gain High-Level Trump Post

Banker Accused of Arranging $16 Million in Loans to Manafort to Gain High-Level Trump Post

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Banker, adviser to Trump, arrested

A Chicago bank chairman has been indicted in Manhattan on a charge that he issued millions of dollars in high-risk loans to President Trump’s former campaign chairman, Paul Manafort, in an effort to obtain a senior position in the administration, federal authorities said on Thursday.

Prosecutors said the chairman, Stephen M. Calk of Federal Savings Bank, pushed the bank to give Mr. Manafort $16 million in loans in 2016 in exchange for help in procuring an appointment for Mr. Calk.

Just after the election, Mr. Calk, 54, sent Mr. Manafort a list of 10 positions ranked in order of preference, including Treasury secretary, commerce secretary and defense secretary, according to the indictment unsealed in Federal District Court.

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