Man, the updates to Culture of Corruption just keep piling up. Here’s another one for my Clinton and Money Men chapters:
The U.S. attorney in New York on Tuesday charged a New York investor and major Democratic fund-raiser with a $74 million scheme to defraud Citigroup Inc (C.N).
Hassan Nemazee, 59, was charged with one count of bank fraud, and faces up to 30 years in prison plus a fine. His lawyer Marc Mukasey, a former federal prosecutor, did not immediately return a call seeking comment.
Nemazee was a national finance chair of U.S. Secretary of State Hillary Clinton’s 2008 presidential campaign, and a supporter of John Kerry’s run for the White House in 2004.
He typically donates more than $100,000 annually to Democratic political candidates, including Senate Majority Leader Harry Reid and Senator Charles Schumer, and sits on the board of the Iranian American Political Action Committee .
Bill Clinton, when he was president, nominated Nemazee to be U.S. ambassador to Argentina.
Prosecutors said Nemazee, the chairman and chief executive of Nemazee Capital Corp, sought to induce Citigroup’s banking unit to lend up to $74 million based on fraudulent and forged documents suggesting that he had hundreds of millions of dollars of accounts available as collateral.
They said Nemazee also provided Citigroup with fake references so that when the bank would try to confirm details about his accounts, it would actually be contacting him. The scheme lasted from December 2006 to this month, the prosecutors said.
Via Reuters.blog comments powered by Disqus
October 25, 2013 10:04 AM by Michelle Malkin
September 19, 2013 01:05 PM by Doug Powers
NBC’s Chuck Todd: Obama administration actions on Benghazi ‘very rational’; Update: Link to live video of House hearing added
May 8, 2013 11:39 AM by Doug Powers
June 11, 2013 05:12 PM by Doug Powers
May 22, 2013 06:43 AM by Michelle Malkin