Franklin, Andrews, Kramer & Edelstein

[BullNBear52]

Calk needs a good lawyer.

https://www.cnn.com/2018/08/13/politics/manafort-trial-takeaways/index.html


Final testimony
Prosecutors tied up the loose ends of their case on Monday, calling the last banker to testify and asking a financial fraud federal agent to return to the witness box. The banker, James Brennan of Federal Savings Bank, put the finishing touches on how his bank's founder and chairman, Stephen Calk, assisted in Manafort's fraud by pushing $16 million in loans the bank knew were too risky to give.
The bank knew and documented the financial red flags that came with Manafort's loan applications -- from hidden debt to shaky professional income. Brennan even rated one loan for Manafort risky but doable in a memorandum used by regulators and the bank. He said on the stand Monday he would never have given that rating if Calk hadn't pressured him. Calk sought a top role in the Trump campaign and administration at the time the bank approved the loans, another witness testified.
"If I had my recommendation ... the loan would not be made," Brennan said. He gave it the sham rating "because the loan was going through," he added.