Feds looking into whether White House job was promised for $16M in mortgages

by Francis Monfort23 Feb 2018

A team of federal investigators led by special counsel Robert Mueller is looking into whether former President Donald Trump campaign chair Paul Manafort obtained $16 million in mortgages by promising a banker a job in the White House, NBC News has reported.

According to the report, which cited two people with direct knowledge of the matter, Manafort took out three loans from Federal Savings Banks in December 2016 and January 2017. The separate loans relate to homes in New York City, Virginia, and the Hamptons.

The banker under investigation is Stephen Calk, president of the Federal Savings Bank. In August 2016, Calk was named a member of candidate Trump's Council of Economic Advisers. However, he has not received a job in Trump’s cabinet.

Investigators are now asking whether Manafort and Calk had a quid pro quo agreement. Sources told NBC News that other bank officials had questioned the three loans. A bank employee who felt pressured into approving the mortgages is working with investigators, according to one of the sources.

Federal prosecutors said in court filings related to Manafort’s bail claimed they have “substantial evidence” that Manafort made false representations, including misstatements of income, to secure a loan using the Virginia and Hamptons properties as collateral.

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