An employee of Federal Savings Bank, where former Trump campaign chairman Paul Manafort successfully obtained $16 million in loans, testified Monday that the bank’s president opposed extending one of those loans to Manafort but was overruled by bank CEO Steve Calk, who served as an adviser on the Trump campaign.
“It closed because Mr. Calk wanted it to close,” bank employee James Brennan said.
The loan, a $9.5 million mortgage on Manafort’s home in the Hamptons, came after a previous construction loan proposal for a property in California fell apart at the closing table.
Prosecutors called Brennan to the stand as they make their case against Manafort for alleged bank fraud. He also faces tax fraud charges in the case in federal court in Virginia. Manafort has pleaded not guilty to all charges.
The trial, which resumed Monday afternoon after recessing on Friday, is entering it’s third week. Prosecutors are nearing the end of presenting their case, and the jury is expected to get the case later this week