Ex-Banker Gets Prison For Scheme To Bribe Way Into Trump Admin

CHICAGO — The North Shore banker sentenced to one year and one day in federal prison after he was convicted of trying to bribe his way into the administration of former President Donald Trump filed a notice of appeal Monday.

Stephen Calk, 57, is the founder and former chief executive officer of Federal Savings Bank, which has locations in Chicago and Lake Forest. Prosecutors said he corruptly used the federally insured bank as a "personal piggybank."

In 2016 and 2017, the bank made $16 million in unsound loans to former Trump campaign manager Paul Manafort in exchange for his consideration for a high-level appointment in the incoming administration, according to the evidence presented at his trial last year in New York.

A federal jury found the former Kenilworth and Northfield homeowner guilty of financial institution bribery and conspiracy to commit financial institution bribery. The offenses carry a maximum sentence of 35 years. Ahead of last week's sentencing hearing before U.S. District Judge Lorna Schofield, prosecutors requested a sentence of four years in prison, while Calk's attorney asked for probation.

“Stephen Calk abused his position as the CEO of a federally-insured bank to try to buy himself prestige and power by trading millions of dollars in high-risk loans for influence with a presidential campaign and consideration for positions at the highest levels of the Defense Department," U.S. Attorney Damian Williams said in a statement. "Today’s sentence sends the message that those who corrupt federally regulated financial institutions will be held to account.”

Calk ranked the cabinet positions and ambassadorships he coveted in a misspelled document titled, "Stephen M. Calk Perspective Rolls in the Administration" that he sent to Manafort ahead of Trump's inauguration, Bloomberg reported.

During his sentencing hearing, Calk told Schofield that his life was "in shambles" and that he had been "deeply humbled," but he denied attempting to gain fame or power, the Associated Press reported. The judge said she needed to impose a prison sentence to show that wealth and influence does not make someone above the law.

“You are extremely wealthy and you did not have to commit this crime,” Schofield told Calk, according to the AP.

Federal regulators barred Calk from the banking industry after his indictment, and he resigned his position with the bank in 2019.

On Monday, attorney Alexandra Shapiro filed a notice of appeal for both Calk's conviction and sentence.

Calk has yet to report to federal prison, but the terms of his sentence call for him to be housed as close as possible to Oxford, Wisconsin, to make it easier for his family to visit him.

Earlier: North Shore Banker Convicted Of Bribery Looks To Unload Mansion