Bank official recalls red flags on Manafort loan application
WASHINGTON (AP) — A bank executive says he found several red flags with Paul Manafort’s finances while the former Trump campaign chairman was being considered for $16.5 million in bank loans.
James Brennan, a vice president at Federal Savings Bank, says Manafort failed to disclose mortgages on his loan application. Brennan’s testimony comes on the 10th day of Manafort’s financial fraud trial. The prosecution is expected to rest its case later Monday.
Brennan also found several “inconsistencies” in the amount of income Manafort reported for his business.
That information led senior executives to reject one of the loans. But Brennan says that rejection was overruled by Federal Savings Bank chairman Stephen Calk.
Other witnesses have said Calk pushed the loans through because he wanted a plum post in the Trump administration.