Trump’s billionaire ally Tom Barrack, 75, is released on $250M bond after reaching a deal with prosecutors following his arrest for ‘acting as an agent of the UAE’
- 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
- He is being released on $250 million bond and will have to wear an ankle monitor
- Barrack, who chaired Trump’s inaugural fund in 2017, waived his right to appear in federal court and will be arraigned in New York on Monday
- Barrack, who was arrested in LA Tuesday, was among three men charged with acting as unregistered foreign agents as they tried to influence US policy on the UAE’s behalf
- The other two men charged are Barrack’s former assistant Matthew Grimes and Emirati businessman Rashid Sultan Rashid Al Malik Alshahhi
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 was arrested in LA on Tuesday, was among three men 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 and Emirati businessman Rashid Sultan Rashid Al Malik Alshahhi.
Grimes was also released on bond on Friday.
A seven-count indictment filed by federal prosecutors in Brooklyn alleged that Barrack, Grimes and Alshahhi 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 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.
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