(AbsoluteNews.com) – On August 20, former White House adviser Steve Bannon, veteran Brian Kolfage and two others were arrested for allegedly defrauding investors. President Donald Trump reacted to the news during an Oval Office meeting with Iraqi Prime Minister Mustafa al-Kadhimi.
The president said he feels “very badly” for Bannon, but hasn’t dealt with him in a very long time. Trump went on to say he didn’t like the “We Build the Wall” project that led to the arrests, explaining he thought “it was being done for showboating reasons.”
Bannon, Kolfage, Timothy Shea and Andrew Badolato raised upward of $25 million by claiming they wanted to use the money to help President Trump build the wall along the Mexico-US border. Prosecutors, however, say the men were using a shell company and nonprofit to keep the money for themselves, even going as far as to hide payments with fake vendors and invoices.
White House Press Secretary Kayleigh McEnany told reporters the president had “no involvement” in the project.
The defendants were all charged with conspiracy to commit money laundering and conspiracy to commit wire fraud. They’re facing 20 years in prison for each count. Bannon pleaded not guilty in his first court appearance.
We will keep you updated on this story as more information becomes available.
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