Wednesday, August 26, 2009

Democratic Party fund-raiser with ties to President Obama attempts steal $74 million and run with it

Mr. Nemazee paid back the $74 million to Citibank on Monday, a day after the F.B.I. interviewed him at Newark Liberty International Airport, where he was about to check in for a flight to Rome, the federal complaint said.

SHOOT: What I find odd is that today you see people stealing more money than they could possibly use, as though the individual had God-like importance.
clipped from
(NYTimes) – A wealthy New York investor and prominent Democratic Party fund-raiser with ties to President Obama and Hillary Rodham Clinton was arrested on Tuesday and accused of lying about his assets to obtain a $74 million loan from Citibank.

The investor, Hassan Nemazee, a former national finance chairman for Mrs. Clinton, orchestrated the fraud by using forged documents showing that he held accounts with collateral worth hundreds of millions of dollars, a federal complaint charged.

But the accounts “either never existed or had previously existed but had been closed years before,” said the office of Preet Bharara, the United States attorney in Manhattan, in a complaint filed in Federal District Court.

Mr. Nemazee also gave Citibank phone numbers and addresses of various financial institutions that would purportedly vouch for his financial strength, but the numbers were controlled by him, the complaint said.
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