USA prosecutors on Monday rested their case against former Trump campaign chairman Paul Manafort after 10 days of testimony alleging how he avoided taxes on at least $16 million of income and lied to banks to maintain an extravagant lifestyle once his work for pro-Kremlin politicians in Ukraine dried up.
Manafort, who has watched silently as the case against him was argued in federal court, was asked by Judge T.S. Ellis whether he wanted to testify in his own defense.
Ellis indicated that prosecutors and Manafort's lawyers would likely make closing arguments to the 12-person jury on Wednesday.
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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.
Last week, a former bank official testified that Calk had been in discussions with Manafort about a job, including consideration for a Cabinet post as secretary of the Treasury or Housing and Urban Development.
Gates said he helped Manafort commit crimes in an effort to protect Manafort's finances. During testimony, Gates was also forced to admit embezzling hundreds of thousands of dollars from Manafort and conducting an extramarital affair.
Prosecutors rested their case on Monday, closing two weeks of testimony that depicted Manafort as using the millions of dollars hidden in offshore accounts to fund a luxurious lifestyle - and later obtaining millions more in bank loans under false pretenses. Calk sought a top role in the Trump campaign and administration at the time the bank approved the loans, another witness testified. Along the way, they've not only faced an aggressive defense team but tongue-lashings from the judge, who pushed the government to speed up its case.
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Mr Brennan said there also were other "red flags" that made Mr Manafort's loan application look shaky.
Brennan said the Chicago-based bank lost at least $11.8 million because it had to write off the two loans, which he said were the two largest the bank had made at that time.
"Mr. Calk willingly risked his national professional and personal reputation as an active, vocal, early supporter of President-Elect Trump", the memo reads, according to Bloomberg.
The judge in Paul Manafort's financial fraud trial has closed the courtroom from the public while he hears argument on a sealed motion filed by the former Trump campaign chairman. Ellis made this clear during his brief conversation with Manafort.
The judge is expected to decide Tuesday on whether to grant a defense motion to dismiss the case before the case goes to the jury - a frequent defense request that is rarely granted.
Before completing their case, prosecutors will call James Brennan, an executive at the Federal Savings Bank.
"The big question is, did the government do enough to show wilfulness", said Wu, who is no longer involved in the case and said he was speaking from knowledge of the publicly available evidence. Prosecutors say Manafort declared only some of his foreign income on his federal income tax returns and repeatedly failed to disclose millions of dollars that streamed into the U.S.to pay for luxury items, services and property.