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Archive for the ‘Paul Manafort’ tag

FBI Raid On Paul Manafort Storage Locker

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One Step Forward
One Step Forward

Michael Cohen being raided is big news, but there are other threads we are following, including the Paul Manafort case. 

The FBI found a storage locker with lots and lots of documents that Paul Manafort was saving, perhaps to be made whole. This will come up again, mark my words.

Betsy Woodruff reports:

According to court documents, one of Manafort’s former employees led an FBI agent to a storage locker filled with paperwork on Manafort’s businesses and finances. The person’s name is redacted from the filings. But he’s now at the center of a fight over evidence that could play a significant role in the government’s case against Manafort.

“People do strange things when confronted with authoritative FBI agents,” said Sol Wisenberg, a criminal defense attorney with Nelson Mullins.

The person whose name was redacted also gave the FBI agent “a key to the lock on Unit 3013 and described the contents of Unit 3013,” according to the affidavit. That person also gave the FBI agent “written consent” to search the storage unit, and opened it for the FBI agent.

The FBI agent then looked into the storage unit and saw about 21 boxes of documents, as well as a filing cabinet. One box was marked as containing expenses, paid bills, invoices, and legal complaints. Another box said it contained “Ukraine Binders,” as well information about ballot security, Georgia, research, and “Ukraine Campaign.”

Manafort and Gates have been involved in Ukrainian politics for years, and helped prop up Kiev’s Putin-friendly strongman, Viktor Yanukovych.

The FBI agent seemed to figure out immediately that the storage unit’s contents were interesting, because the law enforcement officials started surveilling the storage unit facility to see if anyone went in to take out any files. The day after seeing the storage unit, the FBI agent filed the affidavit—which was more than 20 pages long—with a magistrate judge.

(click here to continue reading A Second Paul Manafort Associate Has Turned on Him.)

I guess these guys haven’t heard of a document shredder or something. I shred stuff on a regular basis and I avoid criminal or even sketchy business! Why wouldn’t these guys have a contract with a shredding company to come every other month?

Gleamingly Banal
Gleamingly Banal

A sign of one’s age when this is the birthday present I bought myself

Written by Seth Anderson

April 10th, 2018 at 10:04 am

Defense Department subpoena sought Re Federal Savings Bank

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The Federal Savings Bank
The Federal Savings Bank, West Loop, in the news again. 

Crain’s Chicago reports:

Two senior House Democrats are pushing to subpoena the Department of Defense on whether Trump administration officials considered nominating Chicago banker Stephen Calk as secretary of the Army after his small local bank made outsized loans to Donald Trump’s former campaign manager.

The request for a subpoena was made in a letter today—you can read it below—to U.S. Rep. Trey Gowdy, R-Texas, chairman of the House Oversight & Government Reform Committee, from the panel’s senior Democrat, Rep. Elijah Cummings of Maryland, and Rep. Stephen Lynch of Massachusetts, senior Democrat on the House Oversight subcommittee on national defense.

The two Democrats said the Defense Department hadn’t produced any of the documents they asked for, nor said when it would.

The letter referenced “extremely troubling reports that a banker named Stephen Calk may have made loans of up to $16 million to President Donald Trump’s campaign chairman, Paul Manafort, in exchange for promises to name him secretary of the Army.”

Calk’s Chicago-based lender, Federal Savings Bank, made a total of $16 million in loans to Manafort in December 2016 and January 2017. They were collateralized by homes in New York City, the Hamptons and Virginia.

At just $364 million in assets, Federal Savings Bank is far too small to be making loans of that size to a single borrower.

“Although Mr. Calk ultimately was not given a position with the department, reports that he was being considered for a high-level and highly sensitive national security position within the Trump administration as part of a quid pro quo with Mr. Manafort raise serious concerns that, completely apart from Special Counsel Robert Mueller’s investigation, warrant scrutiny by Congress,” the Democrats’ letter said.

They want to review all Defense Department documents and communications regarding a potential role for Calk, among other items.

(click here to continue reading Defense Department subpoena sought on Trump official – Government News – Crain’s Chicago Business.)

Previous coverage here and here  

Written by Seth Anderson

March 28th, 2018 at 5:19 pm

Mueller, Manafort and Federal Savings Bank

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Entrance to The Federal Savings Bank
Entrance to The Federal Savings Bank

Follow up on the local FSB bank in Fulton Market we wrote about a few months ago…

Federal investigators are probing whether former Trump campaign chair Paul Manafort promised a Chicago banker a job in the Trump White House in return for $16 million in home loans, two people with direct knowledge of the matter told NBC News.

Manafort received three separate loans in December 2016 and January 2017 from Federal Savings Bank for homes in New York City, Virginia and the Hamptons.

The banker, Stephen Calk, president of the Federal Savings Bank, was announced as a member of candidate Trump’s Council of Economic Advisers in August 2016.

Special counsel Robert Mueller’s team is now investigating whether there was a quid pro quo agreement between Manafort and Calk. Manafort left the Trump campaign in August 2016 after the millions he had earned working for a pro-Russian political party in Ukraine drew media scrutiny. Calk did not receive a job in President Donald Trump’s cabinet.

The sources say the three loans were questioned by other officials at the bank, and one source said that at least one of the bank employees who felt pressured into approving the deals is cooperating with investigators.

(click here to continue reading Mueller asking if Manafort promised banker White House job in return for loans – NBC News.)

The Federal Savings Bank
The Federal Savings Bank

Bloomberg adds:

 

The Federal Savings Bank, where Calk is founder, chairman and chief executive officer, also got a “seven-figure” investment from a firm run by one of Trump’s closest friends, Howard Lorber, according to court testimony not previously reported.

Lorber is CEO of the Vector Group, parent company of the New York real estate powerhouse, Douglas Elliman Real Estate LLC. Last year, Trump described Lorber, who is also chairman of Douglas Elliman, as one of his two best friends. In 1996, Trump and Lorber were together in Moscow exploring business opportunities, accompanied by Bennett LeBow, the Vector Group’s founder and chairman.

 

Bennett LeBow in 1998Photographer: Chuck Robinson/AP Images LeBow is a longtime player in both the cigarette and real estate industries in Russia and Ukraine. Among his former business partners is Vadim Z. Rabinovich, a Ukrainian politician who was elected to parliament in 2014 as part of the pro-Russia party that employed Manafort before he signed onto Trump’s campaign.

 

The Vector Group made a “seven-figure” investment in Calk’s bank, according to a 2015 deposition by Calk; Lorber in a 2015 deposition put the figure at $2 million, though he wasn’t sure if the investment was made by Vector or Douglas Elliman. Neither of the men said when the investment was made.

Calk was little known in political circles, even in Chicago. He built a mortgage business in Kansas with his brother John by focusing on military veterans. He moved the bank’s headquarters to Chicago in 2014 after being promised millions in grants and tax credits from the city.

According to a 2016 article in the trade publication, National Mortgage News, about 90 percent of the bank’s lending at the time was directed toward single-family home purchases, most through the Veterans Administration.

 

 

(click here to continue reading Behind Manafort’s Loans, a Chopper Pilot Who Flew Into Trump’s Orbit – Bloomberg.)

Written by Seth Anderson

February 22nd, 2018 at 10:47 am