Break'n News - A bank executive is convicted of loaning Paul Manafort money to obtain a job with the Trump administration.

Business News
Spread the love


In a statement after the conviction, Audrey Strauss, the U.S. attorney in Manhattan, said Mr. Calk “used the federally-insured bank he ran as his personal piggy bank to try and buy himself prestige and power.”

At the time of the loans, Mr. Manafort was trying to stave off foreclosure on several properties and was pressed for cash to support an opulent lifestyle after a stream of payments from Ukrainian consulting clients ran dry.

Mr. Manafort made two calls on Mr. Calk’s behalf in late 2016 to officials on Mr. Trump’s transition team, urging them to appoint Mr. Calk secretary of the Army, prosecutors said. Mr. Calk was interviewed at Trump Tower in 2017 for a job as under secretary of the Army, but was not hired.

Mr. Manafort, 72, was identified as a co-conspirator in the case against Mr. Calk, but he was not charged. He was, however, convicted of 10 felonies in 2018, including bank fraud related to the loans, in two cases brought by the special counsel, Robert S. Mueller III.

Mr. Manafort’s seven-year prison sentence disappeared in December when Mr. Trump pardoned him.

Mr. Calk, who is scheduled to be sentenced in January, faces a maximum of 35 years in prison for the two charges.





Source link

Leave a Reply