Thomas Barrack (left), a longtime friend of former President Donald, reached a $250million bail deal on Friday (Pictures: CNP/Mega/EPA)
A longtime friend of former President Donald Trump arrested earlier this week for allegedly lobbying the Trump administration illegally on behalf of the Untied Arab Emirates has struck a $250million bail deal. A federal magistrate judge on Friday ordered the release Thomas Barrack, a private equity investor, in a bail package secured by $5million in cash.
The release bond is the highest set in the world and was also secured with $21.2million in securities and Barrack’s California home, according to CNBC.
In addition, the judge ordered Barrack to wear a GPS location monitoring ankle bracelet and appear in federal court in Brooklyn for his arraignment on Monday.
Barrack’s attorney Matt Herrington said both sides worked intensely on the bail package to get him out of jail.
‘We have moved great mountains to ensure that Mr Barrack is able to get out before the weekend so he can get to New York and appear for his arraignment on Monday,’ Herrington said in a video hearing before Los Angeles-based US Magistrate Judge Patricia Donahue.
Barrack and his co-defendant, business associate Matthew Grimes, 27, were arrested in the Los Angeles area on Tuesday. Barrack, Grimes and United Arab Emirates national Rashid Sultan Rashid Al Malik Alshahhi are accused of advancing the Middle Eastern country’s interests by influencing the foreign policy stance of Trump’s 2016 campaign and his presidency through April 2018.
In addition, Barrack is charged with obstruction of justice and making several false statements to federal law enforcement agents in a June 2019 interview.
Barrack served as chairman of Trump’s 2017 inaugural fund. He founded the private equity firm Colony Capital and stepped down as its CEO last year and left the executive chairman role in April.
Alshahhi, 43, has yet to be found.
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