Bill Clinton,  Hassan Nemazee,  Hillary Clinton,  Norman Hsu

Another Major Democratic Party and Clinton Political Donor Charged and Arrested

President Bill Clinton in 1997 with Democrat Party donor Hassan Nemazee on right

Talk about a culture of corruption.

Hassan Nemazee, chairman of Nemazee Capital Corp. and a fundraiser for President Barack Obama and Hillary Clinton, was arrested on charges he used phony documents to trick Citigroup Inc. into lending him as much as $74 million.

Nemazee got the loan by telling Citibank he held accounts with hundreds of millions of dollars that could serve as collateral, U.S. Attorney Preet Bharara said today in a statement. The financier used fake addresses and phone numbers controlled by him 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.

Another favorite fundraiser of the Clinton’s, Norman Hsu
is in prison on a California conviction and awaits sentencing on his federal campaign finance fraud conviction.

In the 2008 presidential campaign, Nemazee raised at least $100,000 for Clinton, and then went on to bring in at least $500,000 for Obama after he defeated her in the primary campaign, according to the Washington watchdog group Public Citizen. Clinton is now secretary of state.

Technorati Tags: ,

One Comment