Steve Bannon Arrested On Yacht Off Connecticut Coast

Clinton CT

20 August, 2020

1:59 PM

Description

WESTBROOK, CT — Federal officials on Thursday arrested Steve Bannon, a former adviser to President Donald Trump, on a yacht named Lady May off the coast of Westbrook. Bannon, 66, was one of four people indicted in connection with their "alleged roles in defrauding hundreds of thousands of donors in connection with an online crowdfunding campaign known as 'We Build the Wall' that raised more than $25 million," according to the U.S. Postal Service and U.S. Attorney's Office for the Southern District of New York. The other three facing charges are Timothy Shea, Andrew Badolato and Brian Kolfage. "The defendants allegedly engaged in fraud when they misrepresented the true use of donated funds," New York Postal Division Inspector in Charge Philip Bartlett said in a statement. "As alleged, not only did they lie to donors, they schemed to hide their misappropriation of funds by creating sham invoices and accounts to launder donations and cover up their crimes, showing no regard for the law or the truth. "This case should serve as a warning to other fraudsters that no one is above the law, not even a disabled war veteran or a millionaire political strategist." The multimillion-dollar yacht that Bannon was reportedly on when he was arrested is owned by Chinese billionaire Guo Wengui. Westbrook residents told reporters that the 150-foot vessel was anchored off West Beach. The Wall Street Journal reported Wednesday that Bannon and Wengui raised more than $300 million in a private offering that's being investigated by federal and state authorities. The paper reported at least three banks have frozen accounts linked to fundraising for the company, GTV Media Group. Leaders of 'We Build The Wall' online fundraising campaign charged with defrauding hundreds of thousands of donors https://t.co/cH2abWm2Ph pic.twitter.com/NKxfKXkcEX— US Attorney SDNY (@SDNYnews) August 20, 2020 Hartford Courant reports Bannon was on the Lady May when he was arrested: https://t.co/3fJFL2CFMb Free Beacon reported in 2017 that Guo Wengui owns a yacht by that name: https://t.co/cJkllWVouU— Betsy Woodruff Swan (@woodruffbets) August 20, 2020 Read the full indictment here: U.S. v. Brian Kolfage Step... by Ellyn Santiago on Scribd >