Bannon: Arrest meant to stop border wall

Former White House strategist Steve Bannon blamed his arrest on people who want to stop President Trump's signature promise of a border wall between the United States and Mexico from being built.

"This entire fiasco is to stop the people who want to build the wall," Bannon said Thursday as he left the federal courthouse in Manhattan.

President Donald Trump's former chief strategist, Steve Bannon, was pulled from a luxury yacht and arrested on allegations that he and three associates ripped off donors trying to fund a southern border wall, making him the latest in a long list of Trump allies to be charged with a crime.

The organizers of the "We Build The Wall" group portrayed themselves as eager to help the president build a "big beautiful" barrier along the U.S.-Mexico border, as he promised during the 2016 campaign. They raised more than $25 million from thousands of donors and pledged that 100% of the money would be used for the project.

But according to the criminal charges unsealed Thursday, much of the money never made it to the wall. Instead, it was used to line the pockets of group members, including Bannon, who served in Trump's White House and worked for his campaign.

All four were charged with conspiracy to commit wire fraud and conspiracy to commit money laundering. Each charge carries a potential penalty of up to 20 years in prison.