Bannon and three others were indicted in a federal investigation in the Southern District of New York.  Prosecutors allege the four defrauded donors by raising “more than $25 million to build a wall along the southern border of the United States,” but some of that money was used for personal gain. 

Bannon wore a protective white mask amid the coronavirus pandemic and two open-collared shirts at a federal court in Manhattan, where his lawyer entered a plea of not guilty on his behalf.  He was freed on $5 million bond and was barred by a federal magistrate judge from traveling internationally.  The bond is secured by $1.75 million in cash or property that Bannon has to post by September 3rd.  He is not allowed to use private jets or yachts, and he must surrender his passport.  His travel will be limited to Connecticut and the New York and Washington, D.C., areas.

The campaign was intended to raise money to help President Donald Trump fulfill a campaign promise to build a border wall.  Instead, prosecutors allege that Bannon and his team profited off the arrangement.