Democratic Fundraiser Accused of Fraud
August 25, 2009 by Mark Ellis
Filed under Business
Once a prominent investor and fundraiser for the Democratic Party with ties to Barack Obama and Hillary Clinton, Hassan Nemazee has now been accused of lying about his assets in order to secure a $74 million loan from Citibank. According to the federal complaint filed against him, Nemazee forged documents that tried to depict that he owned accounts with several million dollars worth of collateral.
Nemazee was a national finance chairman for Mrs. Clinton and has also maintained ties to a variety of prominent political figures by inviting them to his Park Avenue home. Now, though, he faces one charge of bank fraud for falsifying the account documents and by giving Citibank useless telephone numbers that should have been to confirm Nemazee’s assets.
In addition to fundraising for Mrs. Clinton, Nemazee also helped Charles Schumer to raise $119 million in his Senate race. When Mrs. Clinton lost in the primaries to President Obama, Nemazee hosted a fundraiser in his home, one that commanded a hefty price of $28,500 per couple.
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