SPAC withdrew, changes to bail hearings in UAE cases

Private equity investor Thomas Barrack’s bail hearing Criminal charges for illegal lobbying Former president of his close friend Donald Trump Representing the United Arab Emirates and was rescheduled to be heard in Los Angeles Federal Court on Friday.

Also on Friday, Falcon Acquisition, a company backed by Barrack, told the US Securities and Exchange Commission in a letter that it was withdrawing its company registration statement submitted to regulators “because the company has chosen to abandon” the planned transaction.

These transactions include an initial public offering of 25 million shares, raising US$250 million for Falcon Acquisition, a so-called blank check company, made up of Barrack’s family office Falcon Peak and TI Capital. Falcon Acquisition plans to list on the New York Stock Exchange, Zeng said that its goal is technology-driven companies as candidates for mergers.

Falcon Peak’s lawyer did not immediately respond to a request for comment.

Barracks, 74, Has been sentenced to jail since he was arrested in Los Angeles on TuesdayHe was scheduled to hold a bail hearing next Monday with Thomas Grimes, Barrack’s 27-year-old business partner, who was charged in the same case.

But the U.S. Attorney’s Office in Brooklyn, New York, which is prosecuting Barack and Grimes, said Friday morning that the two’s bail hearing will now be held in California at 1 p.m. Eastern Time.

On Tuesday, when Barack first appeared in court in Los Angeles, prosecutors had asked him to be detained until at least he appeared in Brooklyn for another hearing because he might flee to avoid facing charges.

A Barack spokesperson rejected CNBC’s request for comment on changes to the bail hearing.

Barrack is accused of working with Grimes and UAE national Rashid Sultan Rashid Al Malik Alshahhi under the direction of senior officials in the country to secretly advance the interests of the UAE by influencing the UAE Trump’s foreign policy stance in the 2016 campaign, And worked hard during Trump’s presidency until April 2018.

In an interview with federal law enforcement officials in June 2019, Barack was also accused of obstructing justice and making multiple false statements.

The indictment pointed out that Barak also provided informal advice to U.S. officials on Middle East policy and sought to be appointed to senior positions in the U.S. government, including serving as a special envoy for the Middle East.

Alshahhi, 43, is still at large in this case.

-CNBC’s supplementary report Kevin Bruninger