Trump says Bannon was 'showboating' with border wall fundraiser

President Trump distanced himself from his former chief strategist hours after his arrest on fraud charges, saying he thought Steve Bannon was "showboating" with a border wall fundraising project.

He spoke hours after Bannon and three others were charged with defrauding donors as part of an online fundraising appeal, "We Build The Wall."

"I don't like that project," said Trump. "I thought it was being done for showboating reasons."

Bannon was one of the key figures in Trump's rise to the White House, but the two have not spoken in months.

Speaking to reporters in the Oval Office, the president described Bannon's actions as "sad."