Yahoo Finance Tom Barrack, Former Adviser To Donald Trump, Pleads Not Guilty To Illegal Lobbying Charges
Tom Barrack, once an informal adviser to Donald Trump and former CEO of Colony Capital, pleaded not guilty to charges of illegal lobbying and lying to federal agents.
Barrack, 74, entered a Brooklyn federal courthouse on Monday for his arraignment to the shouts of some hecklers, one of whom yelled, “It’s our democracy, not yours.”
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On Friday, Barrack was ordered released on a $250 million bond, secured with cash, securities and real estate. He also was ordered to wear a bracelet and will be subject to electronic monitoring. He also will have travel restrictions from his home in Aspen, CO, limited to trips to California to visit family members and to New York for court appearances. At his hearing on Monday, a magistrate judge, Sanket J. Bulsara, also ordered that Barrack not travel on private aircraft.
A co-defendant, Matthew Grimes, a business associate, also pleaded not guilty. He was released on a $5 million bond on Friday.
Barrack was arrested last Tuesday on charges that he failed to register as a foreign agent for the United Arab Emirates, yet sought to influence the Trump campaign and later the administration toward policies favorable to that country. Barrack also was charged with obstruction of justice and making multiple false statements during a June 20, 2019, interview with federal agents.
Barrack led Colony Capital in 2010 as it purchased Miramax from The Walt Disney Co. He served as chairman of the indie unit until it was sold in 2016.
That year, he spoke at the Republican National Convention in support of Trump, and later served as chairman of the newly elected president’s inaugural committee. According to prosecutors, Barrack continued to serve as an informal adviser after Trump took office.
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