Supreme Court Declines to Hear Appeal in High-Profile Bribery Case

The U.S. Supreme Court declined to hear an appeal by Stephen Calk, ex-CEO of Federal Savings Bank, convicted of bribery for approving risky loans to Paul Manafort in exchange for a prospective job in Trump's administration. Calk's conviction was upheld, affirming his prison sentence and fine.

The U.S. Supreme Court has rejected an appeal from Stephen Calk, a former CEO of a Chicago bank, who was convicted of bribery after approving $16 million in risky loans to Paul Manafort, Trump's 2016 campaign chairman, in hopes of snagging a senior government position.

Calk's conviction stemmed from his attempt to leverage his bank's resources for his personal benefit, an act that prosecutors argued was a clear misuse of financial institution power for political gain. His sentence, upheld by the 2nd U.S. Circuit Court of Appeals, includes one year and one day in prison, followed by two years of supervised release, and a $1.25 million fine.

The case highlights ongoing legal debates about what constitutes a 'thing of value' under federal anti-bribery laws, with Calk asserting that the term was misapplied in his case. The Justice Department countered that Calk's actions fell squarely within the realm of corruption, emphasizing the broad interpretation of what may be considered valuable.

(With inputs from agencies.)