Magox Posted August 25, 2009 Share Posted August 25, 2009 Nemazee Is Arrested in $74 Million Citibank Fraud http://www.bloomberg.com/apps/news?pid=206...id=aRJzVy_8GrIM Hassan Nemazee, chairman of Nemazee Capital Corp. and a fundraiser for President Obama and Hillary Clinton, was arrested on charges that he tricked Citigroup Inc. into lending him as much as $74 million using phony documents. Nemazee got the loan by telling Citibank that he held accounts with hundreds of millions of dollars which could serve as collateral, U.S. Attorney Preet Bharara said today in a statement. He used fake addresses and phone numbers to mislead the bank, prosecutors said. The accounts “either never existed or had been closed years before Nemazee submitted the documents referencing those accounts,” Bharara said in the statement. Nemazee, 59, repaid the loan to Citibank yesterday, a day after he was interviewed by Federal Bureau of Investigation agents, prosecutors said. The interview took place at Newark Liberty International Airport as Nemazee was checking in for a flight to Rome. Nemazee is one of the leading fundraisers for the Democratic Party. He served as national finance chairman for the Senate committee that works to elect Democrats when it was run by New York Senator Charles Schumer. Obama, Clinton, Kerry In the 2008 presidential campaign, Nemazee raised at least $100,000 for Hillary Clinton, and then went on to bring in at least $500,000 for Barack Obama after he defeated her in the primary campaign, according to the Washington watchdog group Public Citizen. Clinton is now secretary of state Nemazee Capital was established in 1987 and invests in health care, media, oil and natural gas, and other industries, according to the firm’s Web site. The firm has more than $3 billion under management, according to a July press release. Another prominent fundraiser for Democrats, Norman Hsu, was convicted by a federal jury in May of campaign finance fraud for making tens of thousands of dollars in illegal donations. He also pleaded guilty to cheating investors out of more than $20 million in a Ponzi scheme. He has yet to be sentenced. Link to comment Share on other sites More sharing options...
KD in CA Posted August 25, 2009 Share Posted August 25, 2009 Nothing to see here. As long as those corrupt Republicans are out of the way, the little guy will be protected by the gubmint. Link to comment Share on other sites More sharing options...
Chef Jim Posted August 25, 2009 Share Posted August 25, 2009 I tricked Countrywide into loaning me $400,000 using phony documents. It was called stated income. Link to comment Share on other sites More sharing options...
DC Tom Posted August 25, 2009 Share Posted August 25, 2009 I tricked Countrywide into loaning me $400,000 using phony documents. It was called stated income. Why would anyone falsify paperwork to get a Countrywide mortgage? Countrywide would lend money to anyone with a pulse. I know dogs that have a Countrywide mortgage. Link to comment Share on other sites More sharing options...
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