STREAMING NOW: Watch Now

Prosecution rests in Paul Manafort trial

Prosecutors rested their case Monday afternoon in the trial against former Trump campaign chairman Paul Mana...

Posted: Aug 14, 2018 11:16 AM
Updated: Aug 14, 2018 11:16 AM

Prosecutors rested their case Monday afternoon in the trial against former Trump campaign chairman Paul Manafort.

Prosecutor Greg Andres announced that the prosecution had finished witness presentation against Manafort after 10 days of testimony from 27 witnesses. The defense has not indicated if it will call any witnesses to the stand.

Continents and regions

Court trials

Crime, law enforcement and corrections

Criminal law

Eastern Europe

Europe

Government and public administration

Investigations

Law and legal system

Paul Manafort

Political Figures - US

Politics

Russia

Russia meddling investigation

Trial and procedure

Court witnesses

Testimony

Banking, finance and investments

Business, economy and trade

Consumer loans and credit

Law courts and tribunals

Personal finance

Banking institutions

Consumer banking

Prior to the prosecution resting, a bank official testified that the Federal Savings Bank gave Manafort $16 million in loans and knew that he lied about his financial situation before they were approved by the bank's chairman.

James Brennan, a vice president of Federal Savings Bank, said he faced so much pressure from his bank's chairman about Manafort's ability to borrow the $16 million that he lied on a form reviewed by federal regulators and the bank's directors about the stability of the loan.

"If I had my recommendation ... the loan would not be made," Brennan said in court Monday.

Brennan, who wrote a memorandum about a second $6.5 million loan the bank extended to Manafort, said he had given the loan a rating of "4." But in court Monday, he said he shouldn't have done that.

A very stable, high-quality loan would get a rating of "1," and any rating less than "4" wouldn't get approved and would draw regulators' attention because of its instability, he said.

When asked by prosecutors why the loan received a 4 rating, Brennan said it was because of "Mr. Calk," referring to the bank's founder, Stephen Calk.

"It closed because Mr. Calk wanted it to close," Brennan said, referring to one of the loans.

Last week, the jury heard testimony that Calk approved the loans as he sought Manafort's help in getting a high-ranking position in the Trump administration.

Brennan also said he and his colleagues documented their concerns about Manafort's personal finances. Information about Manafort's company's income, his unpaid debts from his Yankees season ticket and undisclosed mortgages on his other properties in New York raised red flags internally at the bank, he added.

Brennan was the 27th prosecution witness to testify against Manafort in the first major test in court for special counsel Robert Mueller, who is currently leading an investigation into Russian interference in the 2016 election.

Manafort has been charged with 18 tax and banking crimes. He has pleaded not guilty to all charges.

Prosecutors pulled up an email that Brennan sent to colleagues who sat on the bank's loan-approving committee in September 2016. The email detailed some of "the issues we were having" regarding one of Manafort's loan applications, Brennan said.

Brennan also described how he asked Stephen Calk's brother, John Calk, another major Federal Savings Bank shareholder, to sign off on the loans to Manafort, but John Calk refused.

In all, the bank lost $11.8 million on the loans it made to Manafort, Brennan said.

The last testimony jurors heard in the prosecutors' case against Manafort came from financial crimes special agent Paula Liss of the Treasury Department's Financial Crimes Enforcement Network. Liss had testified briefly earlier in the trial.

Liss clarified for the jury Monday that no foreign bank account disclosures existed for Manafort's consulting companies from 2011 to 2014.

She previously testified that Manafort and his wife never disclosed foreign bank accounts they personally controlled, either.

Terre Haute
Clear
85° wxIcon
Hi: 92° Lo: 71°
Feels Like: 90°
Robinson
Clear
84° wxIcon
Hi: 90° Lo: 69°
Feels Like: 91°
Indianapolis
Few Clouds
85° wxIcon
Hi: 89° Lo: 72°
Feels Like: 91°
Rockville
Scattered Clouds
86° wxIcon
Hi: 90° Lo: 70°
Feels Like: 91°
Casey
Scattered Clouds
85° wxIcon
Hi: 90° Lo: 71°
Feels Like: 92°
Brazil
Clear
85° wxIcon
Hi: 91° Lo: 70°
Feels Like: 90°
Marshall
Clear
85° wxIcon
Hi: 90° Lo: 70°
Feels Like: 90°
Hot and humid!
WTHI Planner
WTHI Temps
WTHI Radar

Latest Video

Image

Monday Morning Weather Update

Image

Coronavirus coverage, what we're following for this week ahead

Image

Danger inside hot cars

Image

More stray pets reported over holiday weekend

Image

Brazil Concert Band returns to the stage

Image

4-H auction goes virtual

Image

Volunteers needed for food program

Image

Restaurants welcome in customers over holiday weekend

Image

Sunday Morning Forecast Update

Image

Illinois Lottery closing claims centers temporarily

WTHI Events

 

Illinois Coronavirus Cases

(Widget updates once daily at 7 p.m. CT)

Confirmed Cases: 147251

Reported Deaths: 7020
CountyConfirmedDeaths
Cook925324627
Lake9954423
DuPage9311475
Kane7856275
Will6923320
Winnebago309196
McHenry211597
St. Clair2017137
Kankakee130765
Madison103669
Rock Island103329
Kendall99621
Champaign94813
Boone60821
DeKalb57819
Peoria55628
Sangamon45032
Jackson33919
Randolph2887
McLean27713
Stephenson2765
Ogle2714
Clinton24217
Macon23522
LaSalle22617
Union19519
Whiteside19515
Grundy1735
Coles17217
Iroquois1625
Tazewell1508
Warren1430
Knox1400
Cass1367
Williamson1324
Monroe13013
Morgan1303
Adams1221
Jefferson10717
McDonough10215
Lee1012
Henry961
Pulaski790
Vermilion782
Marion690
Macoupin583
Perry571
Douglas540
Unassigned540
Livingston522
Montgomery481
Jasper477
Jo Daviess461
Christian454
Ford381
Jersey351
Woodford352
Bureau302
Franklin290
Menard240
Fayette233
Mercer230
Wabash230
Alexander220
Mason220
Carroll212
Washington210
Johnson200
Piatt200
Hancock191
Moultrie190
Shelby191
Crawford180
Effingham181
Logan180
Bond161
Cumberland160
Fulton160
Clark150
Massac150
Wayne141
Schuyler130
De Witt120
Brown100
Edgar100
Marshall100
Greene90
Saline90
Henderson80
White80
Lawrence70
Hamilton60
Richland40
Stark40
Pike30
Clay20
Edwards20
Gallatin20
Calhoun10
Hardin10
Pope10
Putnam10
Scott10
Out of IL00

Indiana Coronavirus Cases

(Widget updates once daily at 8 p.m. ET)

Confirmed Cases: 48201

Reported Deaths: 2693
CountyConfirmedDeaths
Marion11624683
Lake5146242
Elkhart328546
Allen2762129
St. Joseph194366
Cass16389
Hamilton1552101
Hendricks1403100
Johnson1278118
Porter72837
Tippecanoe7158
Madison65864
Clark65144
Bartholomew58544
Howard57557
LaPorte57326
Kosciusko5464
Vanderburgh5226
Marshall4924
Noble47828
Jackson4703
LaGrange4708
Hancock44835
Boone44243
Delaware44250
Shelby42525
Floyd37944
Morgan32931
Grant29426
Monroe29428
Montgomery29420
Clinton2892
Dubois2736
Henry26315
White26310
Decatur25032
Lawrence24425
Dearborn23623
Vigo2348
Warrick21429
Harrison21322
Unassigned193193
Greene18832
Miami1822
Jennings17611
Putnam1698
DeKalb1624
Scott1607
Daviess14317
Wayne1386
Orange13623
Steuben1292
Perry1279
Franklin1248
Jasper1212
Ripley1167
Wabash1122
Carroll1102
Fayette997
Newton9810
Starke933
Whitley925
Huntington812
Gibson802
Randolph794
Jefferson722
Wells721
Fulton701
Jay680
Washington671
Knox640
Pulaski641
Clay604
Rush583
Adams501
Benton480
Owen471
Sullivan441
Brown391
Posey390
Spencer381
Blackford372
Crawford320
Tipton321
Fountain312
Switzerland270
Parke230
Martin220
Ohio170
Vermillion140
Warren141
Union130
Pike110