Obama Fund-Raiser Faces New US Fraud Allegation (Hassan Nemazee)

Reuters via CNBC ^ | September 02, 2009 | Reuters

[CutePuppy]

A fund-raiser for Barack Obama, Hillary Clinton and other Democrats who was charged last week with defrauding Citigroup also defrauded other banks, U.S. prosecutors said.

The allegations against fund-raiser Hassan Nemazee—arrested last week on a bank fraud charge and released on $25 million bail—were not formal charges but were in a letter dated Tuesday from prosecutors to a Manhattan federal court magistrate judge handling the case.

Nemazee, 59, head of a private equity firm, was accused on Aug. 25 of one count of bank fraud for seeking a fraudulent $74 million loan from Citigroup's banking unit. He said after his arrest that he had repaid the loan.

"Nemazee repaid his fraudulent loan from Citibank with approximately $74 million that he obtained by defrauding yet another bank," the letter by U.S. Attorney Preet Bharara said. "Furthermore, the Government learned last week that the defendant had defrauded yet another financial institution (Bank No. 3) by obtaining multiple lines of credit on the basis of similar false and fraudulent information."

Rouges: Gallery of Financial Crime The letter did not identify the second and third banks and said Nemazee's total outstanding loans to the third bank exceed $100 million.

.....

Nemazee typically donates more than $100,000 annually to Democratic political candidates, including Senate Majority Leader Harry Reid and Sen. Charles Schumer, and sits on the board of the Iranian American Political Action Committee.

.....

[CutePuppy]

The prosecutor's letter was in response to a written request from Nemazee's lawyer Marc Mukasey for a hearing to address a freezing of funds of Nemazee and his family held in Bank of America Corp and in other accounts.

Marc Mukasey also represents Frank DiPascali, a former CFO of Bernard Madoff Investment Securities. He is son of former Bush AG Michael Mukasey.

[eureka!]

Interesting connection. And kudos to al-Reuters for the headline mentioning the 0ne (as well as other rats in the article). The guy was also a ‘finance chair’, national I think. Were this guy hooked to “President McCain” (or “failed VP candidate Sarah Palin”), even the kiddies would know his name.

[CutePuppy]

“Abramoff” ... “Ken Lay” ... “Haliburton!” ... :-)

[eureka!]

My point exactly. A pox on their dishonest houses.