Steve Bannon's Guilty Plea: Unraveling the 'We Build the Wall' Fundraising Fraud

Steve Bannon, former adviser to Donald Trump, pleaded guilty in New York state court to a fraud charge related to a fundraising campaign for a U.S.-Mexico border wall. He was sentenced to conditional release. The charges stemmed from claims of misleading donors in the 'We Build the Wall' campaign.

Steve Bannon, the former adviser to ex-President Donald Trump, entered a guilty plea in a New York state court on Tuesday for a scheme to defraud connected to a fundraising campaign aimed at constructing a U.S.-Mexico border wall.

Bannon, 71, admitted to one count of the scheme and received a sentence of three years conditional release, thereby avoiding jail time. He faced charges of money laundering and conspiracy, accused of misleading donors who contributed over $15 million to the 'We Build the Wall' initiative during Trump's first presidency.

Initially pleading not guilty, Bannon was set for trial in March, based on charges from Manhattan District Attorney Alvin Bragg. The indictment alleged Bannon misled donors by diverting funds to Brian Kolfage, the drive's CEO. Kolfage is serving a sentence for federal fraud charges.

(With inputs from agencies.)