Wealthy investor is charged with secretly acting as foreign agent for United Arab Emirates
Tom Barrack, a wealthy private-equity investor and Trump 2017 inaugural chair who now faces criminal charges of secretly acting as a foreign agent in the U.S. for the United Arab Emirates, was set to be released on bail Friday after prosecutors and his defense reached an agreement for him to pledge $250 million to secure his future appearance.
The deal spares Barrack — who was arrested Tuesday in the Los Angeles area — from the prospect of spending the weekend in jail and of being transferred in government custody to Brooklyn, N.Y., where the indictment in the case was brought.
An attorney for Barrack, Matt Herrington, said both sides worked intensely on the bail package in order to head off the possibility of Barrack remaining in jail.
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