Thomas Barrack, a close adviser to former President Donald Trump and chairman of his inaugural committee, is coming to a trial in the Eastern District of New York District Court in downtown Brooklyn in New York City on July 26, 2021.
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Private equity investor Thomas Barrack and a business partner pleaded Monday through their lawyers in Brooklyn, New York, on federal charges of illegal lobbying against his friend ex-President Donald Trump on behalf of the United Arab Emirates.
Barrack’s $ 250 million release guarantee was upheld by a judge during the indictment.
The judge ordered Barrack, 74, to refrain from traveling on private aircraft and conducting foreign financial transactions, and to limit his domestic financial transactions to $ 50,000 or less.
Barrack, who will live in his Aspen, Colorado residence, is only allowed to travel to Southern California to visit his children and to New York for court hearings.
As he entered the courthouse before his indictment, Barrack was met by a man who struck up a sign that read “Traitor” in large black letters.
This is the same message – spread by what appears to be the same person – that Trump’s 2016 campaign chief Paul Manafort and his ally Roger Stone often welcomed during their federal criminal cases that ended in convictions.
Those convictions were later overturned when Trump pardoned both men shortly before he left office.
When asked by a reporter how he would argue on the charges, Barrack replied, “Guys, I know you’re just doing your job – I’ll talk to you on the way out.”
Barrack had been jailed without bail until Friday when a federal judge released him on the $ 250 million bond, one of the largest criminal bailouts in history.
The bond is backed by $ 5 million in cash, more than $ 21 million in securities, and four properties owned by Barrack.
Since Barrack’s release, a judge has ordered him to stay with his lawyers. It was also fitted with an electronic wristband with GPS monitoring.
Prosecutors issued a detention memo last week that raised concerns that Barrack, given his Lebanese citizenship and access to a private jet, might flee to avoid charges.
Former Trump campaign manager Paul Manafort (2nd R) arrives with his wife Kathleen Manafort (R) in the Albert V. Bryan US Courthouse to bring charges when a protester holds up a sign on March 8, 2018 in Alexandria, Virginia.
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Barrack, who never registered with the American government as an agent for the oil-rich UAE, is also charged with obstruction of justice and multiple false statements during an interview with federal police officers in June 2019.
Prosecutors said that while Barrack represented the UAE’s interests in the Trump administration, he was informally advising U.S. officials on Middle East policy and seeking appointment to a senior role in the U.S. government, including serving as special envoy for the Middle East.
The indictment also accuses another man, UAE national Rashid Sultan Rashid Al Malik Alshahhi, 43, who remains at large.
Roger Stone, a longtime advisor to President Donald Trump, arrives at the Prettyman United States Courthouse before being indicted by Special Counsel Robert Mueller for lying to Congress and manipulating witnesses on January 29, 2019 in Washington, DC. Stone, a self-described “dirty political trickster,” said he was falsely accused and would plead “not guilty”.
Chip Somodevilla | Getty Images
Last Friday, Falcon Acquisition, a Barrack-backed acquisition special-purpose vehicle, withdrew its registration with the Securities and Exchange Commission, indicating it was abandoning proposed transactions.
The transactions included an IPO of 25 million shares to raise $ 250 million for the Falcon Acquisition, founded by Barracks Family Office Falcon Peak and TI Capital. The SPAC had planned to list its shares on the New York Stock Exchange.
Barrack stepped down as CEO of Colony Capital, a private equity firm he founded, in 2020. In April he stepped down as the company’s CEO.