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Federal prosecutors in the United States on Thursday unsealed criminal charges against Federal Savings Bank CEO Stephen Calk, accusing him of corruptly approving high-risk loans to US President Donald Trump‘s former campaign chairman Paul Manafort in exchange for trying to secure a top job in the Trump administration.
The indictment against Calk, issued in New York, does not name Manafort directly. But the bank executive’s name repeatedly came up during Manafort’s 2018 financial fraud trial in Virginia in which prosecutors said Calk and Manafort engaged in a scheme to exchange the $16m in loan approvals for an administration post.
Calk, 54, faces one count of financial institution bribery, which carries a maximum prison term of 30 years.
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