Billionaire real estate investor Thomas Barrack, Chief Executive Officer of Colony Capital, holds a meeting with media to…
Billionaire real estate investor Thomas Barrack holds a meeting with media to discuss investment plans in Mexico and Latin America, in Mexico City, Mexico, May 22, 2019.

WASHINGTON - Thomas Barrack, a billionaire friend of Donald Trump who chaired the former president's inaugural fund, has been arrested on charges including unlawful foreign lobbying and obstruction of justice, the U.S. Justice Department said Tuesday.

Barrack is accused of unlawfully advancing the interests of the United Arab Emirates (UAE) in the United States. He is also alleged to have lied to FBI agents during an interview about his dealings with the UAE.

Barrack, 74, is a longtime Trump ally and founder of the large private equity firm Colony Capital. Barrack stepped down at Colony Capital’s chief executive in 2020. In April, he resigned as executive chairman of the firm.