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Donald Trump Cohort Steve Bannon Indicted on Charges of Money Laundering, Conspiracy, Fraud; Surrenders to Authorities

Donald Trump Cohort Steve Bannon Indicted on Charges of Money Laundering, Conspiracy, Fraud; Surrenders to Authorities

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Sep. 8 2022, Published 3:26 p.m. ET

Steve Bannon is in the custody of authorities after surrendering early Thursday.

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The long-time ally of Donald Trump and former aide to the former POTUS, Bannon's "We Build the Wall, Inc." non-profit is being charged by the state of New York.

Bannon surrendered himself, and could face serious time in prison if convicted.

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Steve Bannon Surrenders to Authorities over Border Wall Fraud

On Thursday, New York Attorney General Letitia James and Manhattan District Attorney Alvin Bragg announced Bannon's indictment in a statement that read in part that Bannon and the non-profit engaged in, "a year-long fundraising scheme in which they defrauded thousands of donors across the country out of more than $15 million to line their own pockets, and then laundered the proceeds to further advance and conceal the fraud."

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A grand jury convened by the New York State Supreme court charged Bannon and We Build the Wall with two counts of Money Laundering in the Second Degree, two counts of Conspiracy in the Fourth Degree , one count of Scheme to Defraud in the First Degree, and one count of Conspiracy in the Fifth Degree.

These charges mirror those Bannon was charged with by federal prosecutors in 2020. Then-President Trump issued a pardon for those charges, but it cannot apply to state charges.

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AG James' statement added, ""There cannot be one set of rules for everyday people and another for the wealthy and powerful — we all must play by the same rules and must obey the law. Mr. Bannon took advantage of his donors' political views to secure millions of dollars which he then misappropriated. Mr. Bannon lied to his donors to enrich himself and his friends. We will continue to take on fraudulent behavior in every corner of society, including white collar criminals, because no one is above the law."

This legal trouble could land Bannon in prison for 5 to 15 years.

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Bannon's Other Legal Trouble

This isn't the only legal jeopardy bearing down on Stephen Bannon.

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In July, a jury found Bannon guilty on charges of failing to comply with a subpoena issued by the House Select Committee. The Committee is investigating the January 6 Capitol riots and potential efforts to overturn the results of the duly certified 2020 election.

People reports, "A jury of nine men and five women convicted Bannon, 68, on two counts of contempt of Congress, which each carry a minimum of 30 days and a maximum of one year in jail, as well as a fine of $100 to $1,000, according to the Justice Department.

The jury returned a verdict in that case after deliberating for less than three hours."

Bannon will be arraigned on the new charges in Manhattan today and will be sentenced on the July conviction on October 21.

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