Chicago Banker Stephen Calk is asking a federal judge for mercy in his bribery case connected to Donald Trump campaign chairman Paul Manafort.
CHICAGO -- In good times, when Stephen Calk was CEO of The Federal Savings Bank, he was on the good side of then presidential candidate Donald Trump. Now, Calk is on the cusp of learning how far his fall from those glory days will be. By this time on Monday he should know whether a judge will point him to federal prison for bribery and conspiracy with one of Trump's top men.
He is the founder and was the CEO of The Federal Savings Bank, headquartered in the Fulton Market neighborhood. In July, a jury found Calk handed $16 million in unsound bank loans to 2016 Donald Trump campaign chairman Paul Manafort, in exchange for a power seat in the Trump administration; perhaps Secretary of Defense or an ambassadorship.Prosecutors in New York, where the case went to court, say he should spend at least four years behind bars, and maybe five or more.
Manafort went to prison for other financial crimes, but was freed when President Trump pardoned him before leaving office. Calk however received no such consideration or help from the former president. On Monday, he will learn what his immediate future holds. It is expected Calk will appeal the conviction and this case could be in the legal system for months, if not years.
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