A pair of Florida businessmen with ties to President Trump Donald John TrumpFederal prosecutor speaks out, says Barr 'has brought shame' on Justice Dept. Former Pence aide: White House staffers discussed Trump refusing to leave office Progressive group buys domain name of Trump's No. 1 Supreme Court pick MORE’s attorney Rudy Giuliani Rudy GiulianiThe Hill's Campaign Report: GOP set to ask SCOTUS to limit mail-in voting CIA found Putin 'probably directing' campaign against Biden: report Democrats fear Russia interference could spoil bid to retake Senate MORE on Wednesday pleaded not guilty to charges that they orchestrated a scheme to funnel foreign money to U.S. political candidates.

Lev Parnas and Igor Fruman were arrested and charged with violating campaign finance laws earlier this month. The two are also facing charges of making false statements and falsifying records to the Federal Election Commission.

Speaking outside a Manhattan court, Parnas predicted that he would be "vindicated" during the trial, saying that many "false things" have been said about him recently.

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“I look forward to defending myself vigorously in court and I’m certain that in time the truth will be revealed, and I will be vindicated. In the end, I put my faith in God," he said, according to reports.

Parnas and Fruman are accused of illegally funneling money to numerous Republican committees, including a $325,000 contribution in May 2018 to a pro-Trump super PAC called America First Action. They also are alleged to have donated $15,000 to second committee as part of a broad effort to advance the interests of a Ukrainian official and a native of Russia attempting to make it in the U.S. cannabis industry.

Their arrests do not appear to be linked to Giuliani's efforts to pressure Ukraine into opening an investigation into 2020 presidential candidate Joe Biden Joe BidenFormer Pence aide: White House staffers discussed Trump refusing to leave office Progressive group buys domain name of Trump's No. 1 Supreme Court pick Bloomberg rolls out M ad buy to boost Biden in Florida MORE. But the case has gained considerable attention given revelations about Trump and Giuliani's campaign to get a foreign country to find dirt on a top political opponent. Those efforts are at the center of the House Democrats' impeachment inquiry.

Parnas and Fruman have said they introduced Giuliani to individuals inside Ukrainian political circles.

New York federal prosecutors have also accused Parnas and Fruman of hatching a scheme to remove Marie Yovanovitch, the former U.S. ambassador to Ukraine. Yovanovitch was ousted from her position in May.

Edward McMahon, Parnas's lawyer, said in court that evidence gathered in the case could present issues related to executive privilege, NBC News reported.

"He worked for Mr. Giuliani and Mr. Giuliani worked for the president," McMahon said, referring to links between Parnas, Giuliani and Trump.

Federal prosecutor Rachel Donelski said that investigators were aware of the issue and had a system in place to handle it.

Parnas and Fruman were arrested on Oct. 9 at Dulles International Airport in Virginia. The two were carrying one-way tickets out of the country at the time of their arrest. They were both released on bond before their arraignment, NBC News noted.

The other defendants named in the indictment, Andrey Kukushkin and David Correia, have reportedly pleaded not guilty to conspiracy.