Billionaire Trump’s best friend Thomas Barack calls friend’s presidency ‘disastrous’ for his business

Billionaire investor Thomas Barack testified Monday that the presidency of his friend Donald Trump was “devastating” for his business.

Barack made the comments while testifying in his own criminal trial in federal court in Brooklyn, New York.

He has pleaded not guilty to charges of acting as an unregistered foreign agent, obstructing justice, and making false statements to the FBI. It has been accused of trying to move its foreign policy toward the UAE’s “wish list” of priorities.

“Immediately [Trump] If elected, he will be more moderate and more acceptable.”

But Barack testified that his administration ties were what “upset” the shareholders of his company, Colony Capital, saying they were “sitting with you all today.”

Asked about the impact on his business, Barack said, “Public stockholders vote with their feet.”and he added that “The ongoing drama this president found himself in…many of these institutional investors were upset that I was involved with the president.”

When asked by jurors whether he regretted his support of the Trump campaign and his association with the administration after taking office, Barack said, “In hindsight, definitely,” politicians, regardless of party, ” I’m just involved in ugly things,” he added.

Barack also got the chance to talk about his decades-long friendship with the former president, which dates back to the 1980s. ” was used as a bargaining chip for the contract.

Barrack was supportive when Trump expressed genuine interest in running for president in 2015.

“I thought it was amazing in America that a well-intentioned entrepreneur like Donald Trump could be in this fight. It’s good for the system,” Barack said.

Barack told jurors that his firm had deals with other countries like the UAE’s regional rival Qatar, and that investments in Qatari colonies were “arguably” more important than those in the United Arab Emirates. He said it was “impossible” to act on behalf of these countries because investors want to know “no one has an edge” and “all are equal”. ” he testified.

Barack’s testimony came a day after Trump posted about the case on social media platforms, challenging the prosecutor’s accusations.

Trump called Barack “a highly respected businessman who dreamed of bringing peace to the Middle East.” He accused the Justice Department of being “weaponized.”

“He never told me about the ‘speech’ or what to say about it. He is being unfairly persecuted only because he is a ‘Trump’ supporter. ’” the former president wrote.

Trump and Barack have met at least once since the trial began last month, according to a source familiar with the matter.

On Friday, Barrack’s attorneys made a surprise announcement that they plan to make him wanted. a witness in his own defense As the trial draws to a close. His testimony will continue until Tuesday.

The trial, now in its sixth week, is focused on the defense’s case after the government took a break last week. I heard

The government called the former secretary of state Rex Tillerson in the stands Tillerson, who served from February 2017 to March 2018, was unaware that Ballack was in contact with Emirati officials and had never asked him to be involved in foreign policy discussions. said no.

Last week, the former Treasury Secretary Steve MnuchinMnuchin, who served all four years of the Trump administration, undermined the government’s case against Barack when he testified. Barack said he supported Qatar. The lockdown was approved by Trump.

Tillerson was also questioned about a planned summit at Camp David, where Trump hoped to resolve the Qatar blockade. Mr. Mnuchin, citing his executive privilege, did not expand the discussion on Camp David.The summit did not take place.

Barack was indicted in July 2021, along with former assistant Matthew Grimes and business associate Rashid Al-Malik. At the time, Barack was executive chairman of the investment firm Colony Capital, now known as DigitalBridge. He has since resigned.I got Grimes plea of ​​innocence For the offense of acting as an unregistered foreign agent. Al-Malik, who was also indicted as an unregistered foreign agent, has not been found by law enforcement.

Lawyers for Barrack and Grimes said their interactions with UAE officials involved commercial transactions. They said Trump and the U.S. State Department were aware of Barack’s international business ties.