Severa
09-21-2009, 09:27 PM
Democratic Fund-Raiser Nemazee Indicted In $292 Million Fraud - NASDAQ.com (http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=200909211754dowjonesdjonline000363&title=democratic-fund-raiser-nemazee-indicted-in-292-million-fraud)
New York businessman and prominent Democratic fund- raiser Hassan Nemazee was indicted Monday for allegedly defrauding three banks out of $292 million in loans.
Nemazee, 59 years old, was charged with aggravated identity theft and three counts of bank fraud in the indictment. Each bank fraud count carries a term of up to 30 years in prison.
A lawyer for Nemazee didn't immediately respond to a request for comment.
Nemazee, who was involved in various presidential campaigns and once served as finance chairman of the Democratic Senatorial Campaign Committee, was initially charged criminally in August related to a loan he allegedly obtained fraudulently from Citigroup Inc.'s (C) Citibank unit.
Prosecutors from the U.S. Attorney's office in Manhattan also are seeking $292 million in forfeiture in the case.
In the indictment, prosecutors alleged that Nemazee obtained hundreds of millions of loans from Bank of America Corp. (BAC), Citigroup and HSBC Holdings Plc (HBC) between 1998 and 2009.
The government said Nemazee, of Manhattan, used fake documents that claimed he had hundreds of millions of dollars are collateral to obtain the loans.
He allegedly used the proceeds from the loans to make donations to the election campaigns of federal, state, and local candidates; to make donations to political action committees; to make donations to charities; to purchase real property in Italy; and to make monthly maintenance payments on real properties in Manhattan and Katonah, N.Y., prosecutors said.
=============
Didn't Obama say, "Judge me by the people with whom I surround myself"?
Just sayin....:whistle:
New York businessman and prominent Democratic fund- raiser Hassan Nemazee was indicted Monday for allegedly defrauding three banks out of $292 million in loans.
Nemazee, 59 years old, was charged with aggravated identity theft and three counts of bank fraud in the indictment. Each bank fraud count carries a term of up to 30 years in prison.
A lawyer for Nemazee didn't immediately respond to a request for comment.
Nemazee, who was involved in various presidential campaigns and once served as finance chairman of the Democratic Senatorial Campaign Committee, was initially charged criminally in August related to a loan he allegedly obtained fraudulently from Citigroup Inc.'s (C) Citibank unit.
Prosecutors from the U.S. Attorney's office in Manhattan also are seeking $292 million in forfeiture in the case.
In the indictment, prosecutors alleged that Nemazee obtained hundreds of millions of loans from Bank of America Corp. (BAC), Citigroup and HSBC Holdings Plc (HBC) between 1998 and 2009.
The government said Nemazee, of Manhattan, used fake documents that claimed he had hundreds of millions of dollars are collateral to obtain the loans.
He allegedly used the proceeds from the loans to make donations to the election campaigns of federal, state, and local candidates; to make donations to political action committees; to make donations to charities; to purchase real property in Italy; and to make monthly maintenance payments on real properties in Manhattan and Katonah, N.Y., prosecutors said.
=============
Didn't Obama say, "Judge me by the people with whom I surround myself"?
Just sayin....:whistle: