Tom Barrack Freed on $250 Million Bond Deal With Federal Prosecutors

Tom Barracks, the founder and former CEO of Colony Capital and a longtime adviser to Donald Trump, was released on Friday on a massive $250 million bond, three days after being arrested on charges that he was acting as an unregistered foreign agent and lied about it to investigators.

Barrack, 74, was released from the county jail in San Bernardino, according to prison records. He was arrested Tuesday in Los Angeles on charges that he illegally sought to influence United Arab Emirates policy by disclosing himself to be a registered foreign agent.

“I want to thank the fine men and women of the San Bernardino County Sheriff’s office, the United States Police Department, and California’s Central District Probation, Court, and Probation teams,” Barrack said in a statement on Friday night. “They take the hard jobs and do them with great professionalism. I would also like to acknowledge the grace and humanity of the gentlemen with whom I have shared the community over the past three days. I am innocent and will prove it in court.”

Barrack has been a close friend of President Trump for decades and was the chairman of his inaugural committee in 2017. He is accused of taking advantage of his position near the White House to lobby on behalf of the United Arab Emirates. Uniform, without disclosing its role as required by the Judiciary. Apartment.

Barrack will be arranged by a federal judge in Brooklyn on Monday.

The second defendant, Matthew Grimes, was also released on a $5 million bond. The third defendant, Rashid Sultan Rashid Al Malik Alshahhi, is still big.

Barrack, who lives in Santa Monica, has been required to wear a GPS tracker and his travel is restricted to Southern California and New York, according to City News Service. Barrack is a major real estate investor with deep ties to the Middle East. In 2010, he led the acquisition of Miramax from Disney, in partnership with Qatar’s state investment regulator. He later sold the company to beIN Media, a Qatari television station.

After Harvey Weinstein fell from grace in 2017, Barrack sought bail out of the Weinstein Co. founder, before pulling out.

The unusually large $250 million bail fee was imposed in part because Barrack was considered an in-flight risk. His ability to post a quick sum of money has prompted comment and debate about inequality in criminal justice against the rich and powerful. | Tom Barrack Freed on $250 Million Bond Deal With Federal Prosecutors


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