Chicago banker guilty of bribing Paul Manafort with $ 16.5 million in high-risk loans

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Read more: New York accuses Manafort of mortgage fraud

Between 2016 and 2017, Kalk loaned millions of dollars to Manafort to avoid foreclosure of Manafort’s property. Kalk saw this as an opportunity to use Manafort’s influence on the Transitional President’s team to help him rise to prominence.

Kalk tried to hide his plan by making false and misleading statements about the loans to the OCC. For example, he denied knowing that Manafort’s property had been diversified prior to the loans, and said he never wished to take up a position in the presidential administration.

“Kalk used a federally insured bank that he ran as his personal piggy bank to try to buy himself prestige and power,” said US Attorney Audrey Strauss. “Today’s verdict suggests that this office will pursue high-level corruption in federally regulated financial institutions.”

The CALK verdict is scheduled to be delivered on January 10, 2022. Meanwhile, Manafort faces 7-1 / 2 years in prison on charges of tax evasion and bank fraud. Trump pardoned him last December.



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