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The U.S. Supreme Court declined to hear an appeal by a former Chicago bank CEO convicted of bribery involving Paul Manafort, Donald Trump’s 2016 campaign chairman. Stephen Calk, ex-chairman of Federal Savings Bank, approved $16 million in risky loans to Manafort in hopes of securing a top job in the Trump administration. Manafort recommended Calk for U.S. Army secretary, but he was not chosen. Calk’s conviction and one-year prison sentence were upheld by the courts. He was found guilty of financial institution bribery and conspiracy in 2021. Calk argued that Manafort’s help did not constitute a “thing of value” under anti-bribery laws, but the Supreme Court rejected this argument. Manafort, convicted of tax evasion and bank fraud in 2018, was pardoned by Trump in 2020.
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Emma Collins, graduated in Financial Economics from the University of Chicago in the USA in 2016. She has since worked at an asset management firm in New York, where she specializes in investment strategies and portfolio management. Emma has a keen interest in financial analysis and has published several articles in renowned financial journals. Her work focuses on providing actionable insights to investors, and she is known for her forward-thinking approach to managing financial portfolios.
