Former White House adviser Steve Bannon pleaded not guilty to charges he defrauded donors to a $25 million campaign to build a border wall during his first court appearance in Manhattan federal court Thursday.
Bannon, 66, was expected to walk free after agreeing to pony up a $5 million bond following his initial court hearing in the Southern District of New York, where he was arraigned via video conference.
US Postal Service agents arrested Bannon at around 7:15 a.m. this morning on a 150-foot yacht called the “Lady May” near Westbrook, Connecticut.
He repeatedly rocked back and forth in his seat during his hearing, appearing from a holding cell at the Manhattan court, handcuffed and wearing a white mask.
A judge approved Bannon’s release on the hefty bail, which was secured by $1.75 million in assets.
He and three others are accused of ripping off donations to the “We Build the Wall” GoFundMe fundraiser that was launched in December 2018.
Prosecutors allege the former chief strategist for President Trump personally pocketed $1 million in contributions meant for construction of the project, funneled through a nonprofit under his control.
The conditions of Bannon’s bail include restricted travel, no private yachts or boats and no contact with others associated with “We Build the Wall.”
They are charged with conspiracy to commit wire fraud and conspiracy to commit money laundering. Each charge carries up to 20 years in prison.
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