Donald Trump‘s billionaire ally Thomas Barrack is being released on $250 million bond after being charged with illegally lobbying the Trump administration on behalf of the United Arab Emirates.
The 74-year-old reached a deal with prosecutors on Friday that will see him released from custody while he awaits trial on charges of illegal lobbying.
A federal magistrate judge in Los Angeles signed off on the conditions of the agreement, which will include surrendering his passport, complying with a curfew, and wearing an ankle bracelet with GPS monitoring.
The agreement also calls for Barrack to put up a $250 million bond, secured by $5 million cash, which would be forfeited if he does not appear for court proceedings.
Barrack, who chaired Trump’s inaugural fund in 2017, waived his right to appear in federal court.
He will be arraigned in federal court in Brooklyn, New York on Monday.
Thomas Barrack reached a deal with prosecutors on Friday that will see him released from custody while he awaits trial on charges of illegal lobbying
Barrack, who chaired Trump’s inaugural fund and was a frequent guest at the White House, was arrested in LA on Tuesday.
He and two others were charged with acting as unregistered foreign agents as they allegedly tried to influence US policy on the UAE’s behalf while Trump was running in 2016 and later while he was president.
The other two men charged are Barrack’s former assistant Matthew Grimes, 27, and Emirati businessman Rashid Sultan Rashid Al Malik Alshahhi, 43.
Grimes, of Aspen, Colorado, was also released on bond. He is a former executive at Barrack’s company.
Al Malik is a businessman from the United Arab Emirates who prosecutors said acted as a conduit to that nation’s rulers.
Barrack and Grimes were arrested in California while al Malik was at large, believed to be living somewhere in the Middle East, authorities said.
In court papers, prosecutors said al Malik was living in LA for years before fleeing the US three days after an April 2018 interview by law enforcement.
A seven-count indictment filed by federal prosecutors in Brooklyn alleged that Barrack, Grimes and Al Malik failed to register as lobbyists and used their influence to advance the UAE’s foreign policy goals in the United States.
Barrack is also alleged to have repeatedly lied during an FBI interview about his dealings with the UAE.
The indictment goes to the heart of the US′ longtime close relationship with the UAE and directly ties its de facto ruler, Abu Dhabi Crown Prince Mohammed bin Zayed Al Nahyan, to Barrack’s charges.
‘The defendants repeatedly capitalized on Barrack’s friendships and access to a candidate who was eventually elected President, high-ranking campaign and government officials, and the American media to advance the policy goals of a foreign government without disclosing their true allegiances,’ Acting Assistant Attorney General Mark Lesko said following his arrest.
Barrack, 74, (pictured left at the 2017 inauguration) was hit with seven-count indictment relating to trying to push the UAE’s agenda and shape the foreign policy of the administration
Barrack was a prominent supporter of Trump’s successful 2016 presidential campaign and directed his inaugural committee
Barrack’s spokesperson has denied the charges, saying: ‘Mr Barrack has made himself voluntarily available to investigators from the outset. He is not guilty and will be pleading not guilty.’
The billionaire is a longtime Trump ally and founder of the digital infrastructure-focused private equity firm DigitalBridge Group Inc, which was known as Colony Capital Inc before a rebranding announced in June.
Barrack stepped down as DigitalBridge’s chief executive in 2020.
In April, he resigned as executive chairman of the firm but has remained as a non-executive director. Forbes estimates his wealth at $1 billion.
Barrack was a prominent supporter of Trump’s successful 2016 presidential campaign and directed his inaugural committee.