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The United States Attorney for the Southern District of New York issued a press release today announcing the arrest of Hassan Nemazee, the Chairman and Chief Executive Officer of Nemazee Capital Corporation, “in connection with a scheme to defraud Citibank.” The complaint against Nemazee says he:
engaged in a fraudulent scheme to induce Citibank to lend up to $74 million to NEMAZEE based on false representations that NEMAZEE owned millions of dollars in collateral. NEMAZEE submitted, and caused to be submitted, to Citibank numerous documents that purported to establish the existence of accounts in NEMAZEE’s name at various financial institutions containing many hundreds of millions of dollars. In fact, those were fraudulent and forged documents.
This might prove slightly embarrassing because Nemazee is a major Democratic Party donor. According to federal records, he has donated at least $150,000 to the Democratic Senatorial Campaign Committee since 2006, and also gave money in recent years to Joe Biden, Hillary Clinton, Rahm Emanuel, Tom Vilsack, John Kerry and Harry Reid.
More from Ken Silverstein:
Perspective — October 23, 2013, 8:00 am
How pro-oil Louisiana politicians have shaped American environmental policy
Postcard — October 16, 2013, 8:00 am
A trip to one of the properties at issue in Louisiana’s oil-pollution lawsuits
Average percentage increase in the national homicide rate for every one percent increase in the unemployment rate:
Canada banned baby walkers.
Vanilla latte and lemon pound cake continued to be the best-selling items at the Starbucks at CIA headquarters, where baristas do not write customers’ names on their cups.
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“I hope that after reading the following pages the leaders of the Y. M. C. A. will start a campaign to induce good young men to do nothing. If so, I shall not have lived in vain.”