Private equity investor Thomas Barrack pleaded not guilty on Monday to federal charges that claim the billionaire businessman illegally lobbied former US President Donald Trump on behalf of the United Arab Emirates.
Barrack, who has been a long time confidant and adviser to the former president, and even served as the chair of his inaugural committee, submitted his plea through his lawyers in Brooklyn, New York, where the indictment was originally filed by US prosecutors.
A not guilty plea was also submitted on behalf of Matthew Grimes, a business associate of Barrack who is also being charged with violating the US’ foreign lobbying laws.
Charged with violating the foreign lobbying statute, obstruction of justice and giving a false statement, Barrack was granted a bail package in New York that was similar to the release deal greenlighted in California, where he was initially taken into custody on July 20.
Thomas Barrack, a billionaire friend of Donald Trump who chaired the former president's inaugural fund, exits following his arraignment hearing at the Brooklyn Federal Courthouse in Brooklyn, New York, U.S., July 26, 2021.
© REUTERS / ANDREW KELLY
The judge ordered on Monday that Barrack is only allowed to fly commercial and travel between New York, California and Colorado, where he will be living for the duration of the pending trial. It was also determined that Barrack is prohibited from making any foreign financial transactions or making any domestic transactions that exceed $50,000.
Per the California bail agreement, Barrack has been fitted with an electronic bracelet to monitor his every whereabouts. Prosecutors had requested the use of the GPS device over growing concerns that Barrack might attempt to flee the country, fears that were further raised by the businessman’s Lebanese citizenship and extensive wealth.
Barrack’s $250 million bond is also secured by $5 million in cash and more than $21 million in securities, as well as four properties that the Trump ally owns.
The seven-count indictment, which outlines several instances in which Barrack and Grimes consulted with senior UAE officials on possible steps to strengthen ties between the Trump administration and the Middle Eastern nation, also name-checks UAE citizen Rashid Sultan Rashid Al Malik Alshahhi. However, that individual remains at-large.