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Paul Manafort trial: Bank CEO who wanted to work for Trump administration ignored ‘reg flags’ about Manafort

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Paul Manafort trial: Bank CEO who wanted to work for Trump administration ignored ‘reg flags’ about Manafort

ALEXANDRIA, Va. – The chief executive of a Chicago bank, who was pursuing a role with the Trump administration, disregarded several “red flags” on Paul Manafort’s application for $16 million in loans as the former Trump campaign manager was scrambling to keep his consulting business afloat, a bank official testified Monday.

James Brennan, a vice president at Federal Savings Bank, said the institution raised serious concerns about Manafort’s misstatements of income, credit card delinquency and a failure to disclose existing mortgages on at least two properties on his 2016 applications. 

Brennan, who testified under a grant of immunity from prosecution, said a member of the bank’s own credit committee objected to Manafort’s application, only to be overruled by CEO Steve Calk.

The loans were approved, Brennan told a federal court jury, “because Mr. Calk wanted it to close.”

Last week, a former bank official testified that Calk had been in discussions with Manafort about a job, including consideration for a Cabinet post as secretary of the Treasury or Housing and Urban Development.

Dennis Raico, a former bank vice president said Friday his boss’ discussions “made me very uncomfortable.”

Brennan is expected to be one of the government’s final witnesses before prosecutors rest their case.

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