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00:00:01
>> Prosecutors on Monday rested their case in the fraud trial against former Trump campaign chair Paul Manafort. Government lawyers wrapping up after ten days of testimony, alleging how Manafort avoided taxes on at least $16 million of income and lied to banks to maintain an extravagant lifestyle when his overseas consulting work dried up.
00:00:22
Prosecutors on Monday called Federal Savings Bank executive James Brennan who testified that the bank's CEO, Stephen Calk, overruled numerous red flags to push through Manafort's fraudulent $16 million loan application. Reporter Warren Strobel is following the story.>> It is alleged earlier in the trial that Calk was hoping that Manafort would help him get a job, first on the Trump campaign and then in the Trump administration.
00:00:47
And that was part of the reason behind the loan. Brennan testified that not only did the bank not make money off the loan, but they ultimately took a hit of $11.8 million.>> This, after the prosecution laid out Manafort's alleged efforts to avoid taxes on millions of dollars from politicians in the Ukraine, hidden in offshore accounts.
00:01:07
>> So the prosecution had been trying to make the point that Paul Manafort lied and misrepresented his finances in order to get loans that he desperately needed, because his business in Ukraine dried up after 2014. And rather than trim his sales, the prosecution says Paul Manafort tried to continue to live the lavish lifestyle that they have laid out.
00:01:29
>> The trial is now in its tenth day, and has been marred by controversy over the conduct of presiding judge T.S. Ellis. Ellis has engaged in heated clashes with lawyers from both sides. The case against Manafort arose out of Special Counsel Robert Mueller's probe of Russian meddling in the 2016 presidential race.
00:01:48
His defense team has sought to undermine the credibility of the prosecution's star witness, Manafort's former business partner, Rick Gates, who testified the two of them had committed numerous crimes. The trial could go to the jury for a verdict as early as mid-week if Manafort's legal team decides not to call any witnesses in his defense.