Stephen Bannon pleaded not guilty in an initial court appearance Thursday following collusion charges in connection with an alleged scheme to launder money from a lender’s organization aimed at building a privately funded wall along the southern border.
A federal magistrate’s judge has agreed to release him on a $ 5 million bond with certain travel restrictions.
The former White House top adviser is accused of assisting in a scheme to funnel money from the nonprofit We Build The Wall to cover his own personal expenses and pay an undisclosed salary to the campaign’s founder , Brian Kolfage.
We Build The Wall has raised more than $ 25 million in its crowdfunding campaign and has begun building on private land.
Bannon may choose to change his plea as his case progresses.
Thursday’s court appearance was made during a video conference hearing on coronavirus security measures.
Prosecutors said during the hearing that Bannon was arrested at 7:15 a.m. Thursday on a yacht off the coast of Connecticut.
A first pretrial hearing is scheduled for August 31.
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