Connect with us

Hi, what are you looking for?

Politics

Trump ally Barrack allowed to remain free ahead of lobbying trial

Politics12 minutes ago (Jul 23, 2021 04:00PM ET)

(C) Reuters. FILE PHOTO: Billionaire real estate investor Thomas Barrack, Chief Executive Officer of Colony Capital, holds a meeting with the media to discuss investment plans in Mexico and Latin America, in Mexico City, Mexico May 22, 2019. REUTERS/Henry Romero

By Jan Wolfe

(Reuters) -A judge in Los Angeles on Friday signed off on a deal that allows former U.S. President Donald Trump’s billionaire ally Thomas Barrack to be released from custody while he awaits trial on charges of illegal lobbying on behalf of the United Arab Emirates.

Under the agreement approved by U.S. Magistrate Judge Patricia Donahue, Barrack will wear an ankle bracelet that tracks his location, surrender his passport and submit to a curfew. The agreement, reached with prosecutors, also calls for Barrack to put up a $250 million bond, secured by $5 million in cash.

The deal spares Barrack, who was arrested in Los Angeles on Tuesday https://www.reuters.com/world/us/trump-ally-barrack-arrested-foreign-lobbying-charges-us-justice-department-2021-07-20, from being transferred in government custody to Brooklyn, where the case against him was filed.

An attorney for Barrack, Matt Herrington, said during the court hearing that lawyers worked intensely on the bail package so that the businessman would not remain in jail over the weekend.

“We have moved great mountains to ensure that Mr. Barrack is able to get out before the weekend,” Herrington said.

Barrack, who chaired Trump’s inaugural fund and was a frequent guest at the White House, was charged with illegally lobbying the Trump administration on behalf of the UAE.

A spokesperson for Barrack said he will plead not guilty.

Barrack, 74, is a longtime Trump ally and founder of the digital infrastructure-focused private equity firm DigitalBridge Group Inc, which was known as Colony Capital (NYSE:DBRG) Inc before a rebranding announced in June.

A seven-count indictment filed by federal prosecutors in Brooklyn accused Barrack, a former employee and an Emirati businessman of failing to register as lobbyists and using their influence to advance the UAE’s foreign policy goals in the United States. Barrack also was accused of repeatedly lying during an FBI interview about his dealings with the UAE.

Trump ally Barrack allowed to remain free ahead of lobbying trial

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Uncategorized

Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt.

Uncategorized

Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione.

Uncategorized

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum.

Uncategorized

Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora.

Disclaimer: Buzzclever.com it's managers and its employees (collectively "The Company") do not make any guarantee or warranty about what is advertised or above. Information provided by this website is for research purposes only and should not be considered as personalized financial or health advice. Copyright © 2021 Buzz Clever. All Rights Reserved