Bannon pleaded not guilty this afternoon at a brief presentment before U.S. District Judge Analisa Torres in Manhattan, and was freed on $5 million bond which restricts his traveling. Bannon was arrested this morning on a Chinese billionaire’s yacht, and charged with fraud over a $25 million campaign to crowdfund a wall on the US southern border.
Three other executives of the We Build the Wall charity were also charged Thursday with plotting to defraud the donors and launder their money into their own pockets. Bannon; U.S. Air Force veteran Brian Kolfage; venture capitalist Andy Badolato; and Timothy Shea each face conspiracy counts that could carry a maximum 40-year sentence.
“To induce donors to donate to the campaign, Kolfage and Bannon — each of whom, as detailed herein, exerted significant control over We Build the Wall — repeatedly and falsely assured the public that Kolfage would ‘not take a penny in salary or compensation’ and that ‘100% of the funds raised … will be used in the execution of our mission and purpose’ because, as Bannon publicly stated, ‘we’re a volunteer organization,’” according to the indictment filed in the Southern District of New York.
“Those representations were false,” it continues.
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published on Steve Bannon & partners arrested for misleading & manipulative WE BUILD THE WALL charity. The Duran Quick Take: Episode 639. Via Zerohedge (https://www.zerohedge.com/political/steve-bannon-arrested-and-charged-fraud-federal-prosecutors-new-york)… Bannon pleaded not guilty this afternoon at a brief presentment before U.S. District Judge Analisa Torres in Manhattan, and was freed on $5 million bond which restricts his traveling.
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