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AP National Business

Banker gets gets 1 year in prison in Manafort loan scheme

KIFI
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Published 4:47 PM

By TOM HAYS
Associated Press

NEW YORK (AP) — A Chicago banker has been sentenced to a year in prison for his conviction in a scheme to make $16 million in loans to Paul Manafort to gain influence in the Trump administration. Manafort served as a campaign manager to former President Donald Trump in the summer of 2016. The banker, Stephen Calk, was sentenced Monday in federal court in Manhattan. Calk was convicted last year on financial institution bribery and conspiracy charges. Calk’s lawyers had argued for a non-prison sentence for Calk, saying he has led “a decent law-abiding life.” But prosecutors said he corruptly abused his positions as chairman and chief executive of a federally insured bank.

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