According to BBC, Bannon defrauded hundreds of thousands of donours in connection with the “We Build the Wall” campaign, which raised $25m (£19m), the US Department of Justice (DoJ) said.
Bannon received more than $1m, at least some of which he used to cover personal expenses, the DoJ said.
He is due to appear in court later.
The “We build the wall” campaign pledged to use donations to build segments of the border barrier – whose construction was a key Trump promise during the 2016 election – on private land.
But Audrey Strauss, the Acting US Attorney for the Southern District of New York (SDNY), said Mr Bannon, Brian Kolfage, Andrew Badolato and Timothy Shea had “defrauded hundreds of thousands of donors, capitalising on their interest in funding a border wall to raise millions of dollars, under the false pretence that all of that money would be spent on construction”.
Mr Bannon had received more than $1m through a non-profit organisation he controlled, at least some of which he used to cover “hundreds of thousands of dollars in Bannon’s personal expenses”, the DoJ said.
Meanwhile, Mr Kolfage – founder of “We Build the Wall” – covertly took $350,000 for his personal use, the statement said.
“While repeatedly assuring donors that Brian Kolfage, the founder and public face of We Build the Wall, would not be paid a cent, the defendants secretly schemed to pass hundreds of thousands of dollars to Kolfage, which he used to fund his lavish lifestyle,” Ms Strauss said.
SDNY Inspector-in-Charge Philip R Bartlett said the four created “sham invoices and accounts to launder donations and cover up their crimes, showing no regard for the law or the truth”.
All four defendants are charged with one count of conspiracy to commit wire fraud and one count of conspiracy to commit money laundering, each of which carries a maximum penalty of 20 years in prison.
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