Monday, July 4, 2022

Trump fundraiser Barrack sought UAE funding whereas lobbying for nation -prosecutors

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Thomas Barrack, a billionaire good friend of Donald Trump who chaired the previous president’s inaugural fund, exits following his arraignment listening to on the Brooklyn Federal Courthouse in Brooklyn, New York, U.S., July 26, 2021. REUTERS/Brendan McDermid

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NEW YORK, Could 17 (Reuters) – A billionaire fundraiser for former U.S. President Donald Trump’s marketing campaign sought funding from two United Arab Emirates sovereign wealth funds on the identical time he was illegally lobbying for the nation, prosecutors mentioned on Tuesday.

In a brand new indictment filed in federal courtroom in Brooklyn, prosecutors mentioned an funding administration agency run by Thomas Barrack acquired capital commitments from the unnamed UAE funds totaling $374 million in 2017, after receiving no new funds from the nation from 2009 to 2016.

That got here as Barrack, who chaired Trump’s 2017 inaugural fund and was a frequent visitor on the White Home, was secretly lobbying the Trump administration for the UAE between 2016 and 2018, prosecutors mentioned.

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Barrack final 12 months pleaded not responsible to an earlier indictment on seven legal counts and is awaiting trial, scheduled for this fall. learn extra

The brand new indictment costs Barrack with 9 legal counts, together with appearing as an unregistered overseas agent and making false statements to authorities. His legal professionals didn’t instantly reply to requests for touch upon Wednesday.

The indictment didn’t identify the corporate that acquired the commitments. Barrack is the founding father of digital infrastructure-focused non-public fairness agency DigitalBridge Group Inc (DBRG.N), previously often called Colony Capital.

DigitalBridge didn’t instantly reply to a request for remark. Barrack has stepped down from former roles because the agency’s chairman and chief govt. learn extra

In September 2017, Barrack emailed an govt on the UAE sovereign wealth funds and mentioned he was “honored and privileged” to have the fund make investments $74 million together with his firm, based on the indictment. A second fund pledged $300 million the next 12 months, the indictment says.

The indictment didn’t say whether or not Barrack’s firm in the end acquired the funds.

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Reporting by Luc Cohen in New York; enhancing by Noeleen Walder and Jonathan Oatis

Our Requirements: The Thomson Reuters Belief Rules.



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