ALEXANDRIA, Va. (CN) – A Chicago bank approved former Trump campaign chair Paul Manafort for a loan just one day after the bank’s chief told Manafort he was interested in serving for then-presidential candidate Donald Trump, a bank executive testified Friday after the trial was put on hold for several hours.
Dennis Raico, a former senior vice president at Federal Savings Bank, delivered the testimony Friday afternoon during Manafort’s tax and bank-fraud trial in Virginia federal court. U.S. District Judge T.S. Ellis III delayed the trial Friday morning for three hours.
Raico told jurors that Federal Savings Bank founder and CEO Steve Calk said he wanted to meet Manafort after Raico told him the then-Trump campaign chairman was a potential client of the bank.
Raico said he told Calk about Manafort because he knew Calk was interested in politics and that Manafort worked in the field.
Manafort joined the Trump campaign in March 2016 and started meeting with the bank in April, Raico testified.
Manafort eventually received two loans worth a total of $16 million from the bank. Raico testified Calk was personally involved with the Manafort loans and sought to expedite their processing.
Manafort and the bank closed the first loan on Nov. 16, 2016, just days after the presidential election, and the second on Jan. 4, 2017, shortly before Trump’s inauguration.
Raico said Calk and Manafort met at a dinner at The Capital Grille in Manhattan in May 2016 during which “politics, loans” and other topics were discussed. He said Manafort and Calk sat near each other during the dinner and were able to talk privately.
Prosecutor Greg Andres asked Raico to summarize an email displayed in court from August 3, 2016.
In the email, Manafort requested Raico provide him with a copy of Calk’s resume.
“Why did he make this request?” Andres asked.
“He wanted to serve in the Trump administration,” Racio replied.
“Were you often asked to pass messages between Mr. Manafort and Mr. Calk?”
Racio said he was and that it frequently made him “uncomfortable.”
Later, on Nov. 11, 2016, Calk called Raico and mentioned that he hadn’t heard from Manafort in awhile and wanted Raico to call Manafort to see if he “might be a potential candidate for head of the Department of the Treasury,” Racio testified.
A witness earlier in the trial testified that Manafort suggested to his business partner Rick Gates that Calk should be considered for a position in the Trump administration. Gates was working on Trump’s inauguration at the time and Manafort had left the campaign before the election.
In another email displayed in court Friday from Raico’s assistant to Tom Horn, an underwriter who sits on the credit committee at Federal Savings Banks, the assistant wrote that she “spoke to Paul” and had receive income documents for the Davis Manafort Parnters International LLC loan application.
According to Raico, there were “discrepancies” in Manafort’s income and tax returns.
“What do you mean by discrepancies?” Andres asked.
“A plus B didn’t equal C all the time,” Raico said.
A $300,000 outstanding balance on Manafort’s American Express card for season tickets to the New York Yankees was one of the discrepancies, Raico said.