The Latest: Banker says chairman approved loan to Manafort
ALEXANDRIA, Va. (AP) — The Latest on the bank fraud and tax evasion trial of former Trump campaign chairman Paul Manafort (all times local):
4 p.m.
A New York banking executive is testifying that the chairman of his bank overruled his own bank's president in order to approve a $9.5 million loan to former Trump campaign chairman Paul Manafort.
Federal Savings Bank Senior Vice President Dennis Raico said Friday during Manafort's financial fraud trial that the bank's chairman, Stephen Calk, green-lighted the loan.
The loan was aimed for a Manafort property in Bridgehampton, New York, but the bank's president, Javier Ubarri, had torpedoed the loan application, questioning whether Manafort had enough income to pay it back.