A bank founder convicted in 2021 of facilitating $16 million in loans to Paul Manafort in exchange for assistance in pursuing a high-level appointment in former President Trump’s administration lost his Second Circuit appeal on Tuesday.
Stephen Calk, the founder and former Chairman and CEO of Federal Savings Bank, challenged the lower court’s interpretation of the financial institution bribery statute, claiming it misconstrued some of the law’s key terms, namely “corruptly” and “thing of value.”
The appeal raised novel questions for the US Court of Appeals for the Second Circuit, which hadn’t previously addressed the scope of the law.
Calk ...
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