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Andrew Badolato
We Build the Wall Fraud Conspirator; Pleaded Guilty to Wire Fraud and Money Laundering
Convicted Fraudster; Former We Build the Wall Board Member; Venture Capitalist
Overview
Andrew Badolato is a Florida-based venture capitalist and one of four defendants indicted in August 2020 for the "We Build the Wall" fraud scheme alongside Steve Bannon; Brian Kolfage; and Timothy Shea. The scheme defrauded hundreds of thousands of donors who contributed over $25 million to an online crowdfunding campaign that promised 100% of donations would go toward building a wall on the U.S.-Mexico border. In reality; the defendants siphoned hundreds of thousands of dollars for personal use; routing money through a nonprofit and shell companies to conceal the theft. Badolato served on the board of the nonprofit "We Build the Wall; Inc." and helped structure the financial arrangements that enabled the fraud; including creating fake invoices and vendor agreements to disguise personal payments. Kolfage used the funds for a boat; luxury SUV; cosmetic surgery; jewelry; and personal expenses. Bannon received over $1 million through a nonprofit he controlled. Badolato pleaded guilty to conspiracy to commit wire fraud and conspiracy to commit money laundering in April 2022. He was sentenced to 36 months in federal prison. Notably; Steve Bannon was pardoned by President Trump on January 20; 2021; before his federal trial; but Badolato; Kolfage; and Shea were not pardoned and faced the full consequences of prosecution. Bannon was later convicted on separate state charges for the same scheme in New York.
Key Affiliations
Controversies & Concerns
Indicted in August 2020 alongside Steve Bannon; Brian Kolfage; and Timothy Shea for defrauding donors in $25M+ "We Build the Wall" crowdfunding campaign
Created fake invoices and vendor agreements to disguise personal payments from funds donors believed were going to border wall construction
Pleaded guilty to conspiracy to commit wire fraud and conspiracy to commit money laundering in April 2022
Sentenced to 36 months in federal prison; unlike co-defendant Bannon who was pardoned by Trump
Helped route donor money through shell companies and a nonprofit to conceal theft from hundreds of thousands of donors
Related Investigations (1)
Criminal Charges & Violations
2 documented violations
Pleaded guilty; April 2022Conspiracy to commit wire fraud(2020-08-20)
Pleaded guilty; April 2022Conspiracy to commit money laundering(2020-08-20)
Known Associates & Connections
Steve Bannon
Co-defendant in We Build the Wall fraud; pardoned by Trump; later convicted on state charges
Brian Kolfage
Co-defendant; launched the GoFundMe campaign; used funds for personal luxury purchases
Sources & Documentation
2 documented sources from official records, investigations, and reports
Personal Information
- Birthplace
- Florida; USA
Education
Key Timeline
December 2018
"We Build the Wall" GoFundMe campaign launched by Brian Kolfage; raises over $25 million from donors
2019
Badolato helps structure financial arrangements through nonprofit and shell companies to siphon donor funds
August 20; 2020
Indicted alongside Steve Bannon; Brian Kolfage; and Timothy Shea for wire fraud and money laundering conspiracy
January 20; 2021
Steve Bannon pardoned by Trump in his final hours in office; Badolato; Kolfage; and Shea not pardoned
April 2022
Pleads guilty to conspiracy to commit wire fraud and conspiracy to commit money laundering
2022
Sentenced to 36 months in federal prison