Big Dem Donor Nemazee Indicted In Alleged $292 Million Scheme

[one...two...tree 2,762]

Hassan Nemazee, a fund-raiser for H. Clinton and President Obama

Zachary Roth, TPM

Federal prosecutors have accused a major Democratic fundraiser with ties to Barack Obama and Hillary Clinton of orchestrating a Ponzi scheme that involved swindling several major banks out of hundreds of millions of dollars, and using some of the proceeds to fund political candidates and PACs.

According to a Justice Department press release, Hassan Nemazee was indicted this afternoon by a grand jury, charged with using fake documents and signatures to bilk Citibank, Bank of America, and HSBC out of over $290 million, in an alleged scheme that dates back to 1998. Nemazee alleged used the Citibank money to repay the B of A loan, and vice versa. And even after being questioned by FBI agents about the Citibank loan last month, Nemazee allegedly went to HSBC to fraudulently draw down a line of credit, which he tried to access funds to pay back Citibank.

You can read the indictment here.

http://tpmmuckraker.talkingpointsmemo.com/...ill.php?ref=fpa

[Ban Hammer 14,665]

didn't obama gave some of them a bailoutt?

[Pooky 3,930]

So THAT's why Bank of Stupid hiked my interest rate!

Dang!

[Pinocchio Liberal 268]

Geez, Becca and Steve coulda used that! What a #######.