Bank CEO charged with trying to trade loans for Trump post

Staff Writer

NEW YORK (AP) — A banker who prosecutors say tried to buy himself a senior post in President Donald Trump’s administration by making risky loans to former Trump campaign chairman Paul Manafort was arrested Thursday on a financial institution bribery charge.
Stephen M. Calk, 54, was scheduled to appear in Manhattan federal court in the afternoon. A message was left with his attorney for comment.
Authorities said Calk committed the crime while serving as CEO of The Federal Savings Bank based in Chicago.
Federal prosecutors described the charge in a release, saying Calk abused his bank position by approving $16 million in high risk loans that were ultimately downgraded.
William F. Sweeney Jr., head of New York’s FBI office, said Calk “went to great lengths to avoid banking violations in an attempt to secure a senior position in a presidential administration.”...To read more, please refer to our print or online edition.

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