The charges were contained in an indictment unsealed in Manhattan federal court.

Federal prosecutors from the U.S. Attorney's Office for the Southern District of New York alleged that Bannon and the others "orchestrated a scheme to defraud hundreds of thousands of donors" in connection with an online crowdfunding campaign that raised more than $25 million to build a wall along the southern border of the United States.

According to the indictment, Bannon promised that 100% of the donated money would be used for the project, but "the defendants collectively used hundreds of thousands of dollars in a manner inconsistent with the organization's public representations."

The indictment said they faked invoices and sham "vendor" arrangements, among other ways, to hide what was really happening.

This appears to be a bit of a stretch, hundreds of thousands of dollars in $25 million money raise could very well be for expenses, at least as far as Bannon is concerned. All indications are that he has substantial wealth.