Paul Manafort trial: Bank fast-tracked loan as Trump chairman discussed cabinet posts for CEO

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In the last day of testimony from Rick Gates in the trial of his former boss Paul Manafort, AP reporter Chad Day says Gates admitted regret in his actions. Day says later that two witnesses provided some “very damning” testimony against Manafort. (Aug. 8)
AP

ALEXANDRIA, Va. – The chief executive of a Chicago bank “expedited” approval of $16 million in loans for Paul Manafort after the former Trump campaign chief discussed a possible role for the executive in the campaign and ultimately in President Donald Trump’s administration.

Dennis Raico, a former senior vice president at Federal Savings Bank, said he had never seen CEO Steve Calk become involved in such loan negotiations, adding that Calk’s contacts with Manafort “made me very uncomfortable.”

Within days after the first of two loans closed – following Trump’s November 2016 election – Raico told a federal court jury that his boss asked him to call Manafort to learn whether Calk was still in the running for cabinet positions to lead the departments  of Treasury or Housing and Urban Development.

Raico, who was testifying Friday under a grant of immunity from prosecution, said that Manafort’s loans were approved even as questions were raised about his financial condition.

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Paul Manafort trial: Scramble for cash led to false loan applications, prosecutors say

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